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.
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.
A Policy Perspective on Effective Management of Public Sector Assets
There are many challenges facing public sector asset management in South Eastern Europe. However, creating a central strategic (long-term and sustainable) policy framework for the overall management of state assets, backed by a clear institutional accountability framework, remains a #1 challenge for most countries in the region. The frequent lack of government-wide strategies, politically feasible and economically viable policies, and clear rules further exacerbates fragmentation, as does the absence of a clear rationale for state ownership. Even if some assets are managed well, the overall result is often suboptimal. Efficient PSAM needs a coherent set of legal, institutional, and strategic policy prerequisites for making and implementing decisions concerning such assets.
Online Course: March 11 – 22, 2024
How Auditors and Accountants Can Collaborate to Combat Fraud and Corruption
Online Course: March 18 – 29, 2024
Strengthening Capacities in Accounting and Auditing through the Network of Regional Experts
Workshop: May 29 – 30, 2024