Accounting and Financial Reporting

We promote regional cooperation and sharing of experiences to support our constituency in overcoming challenges when transitioning to accrual-based accounting and adopting the International Public Sector Accounting Standards (IPSAS). We aim to strengthen public sector accountants’ role in the preparation and delivery of the accounting reforms, fight against fraud and corruption, better management of publicly owned assets, and cooperation with other key stakeholders in implementing the public sector reforms. We explore also why accounting matters from a central banking perspective by focusing on accounting and financial reporting framework and on accounting standards for banking and non-banking sector supervisors. Together with the Chartered Institute of Public Accountancy (CIPFA), we offer a platform for sharing knowledge, experience, best practices, and recommendations to public sector accountants and auditors at our joint annual international conference.

Topic lead

Želimir Stanić

Specialist, Learning Program


2024 Highlights


Within the Efficient Public Sector Asset Management Program (EPSAM), our focus remains on improving asset accounting and ensuring the program's sustainability to provide ongoing educational support for public officials in this field. We will analyze how to strengthen legal, institutional, and strategic policy frameworks to develop a comprehensive and overarching ownership policy and clear institutional accountability. We will put special emphasis on fostering the exchange of best practices and lessons learned among asset managers and various public sector organizations engaged in managing public sector assets, with a specific focus on the role of State Audit Institutions in this process. Through the international CEF-CIPFA conference, we aim to facilitate dialogue, knowledge exchange, and collaboration among public officials, policymakers, and experts to address critical issues at the intersection of finance, sustainability, and climate change. By addressing Environmental, Social and Governance (ESG), sustainability, and integrated reporting, we aim to reinforce the public sector's dedication to sustainability, responsible governance, and the overall well-being of the communities it serves. We will continue consulting the Network of Regional Experts (NRE) for accounting and auditing to prioritize the identified learning needs and discuss ways to translate these into relevant capacity development initiatives. We will also train experts on selected and the most relevant topics that are addressed through certification training modules.