• Register
Return to: Home > News > Standards > ACCA regrets slow adoption globally of accrual accounting in the public sector

ACCA regrets slow adoption globally of accrual accounting in the public sector

by Federica Tedeschi

The Association of Chartered Certified Accountants (ACCA) has published a new report which considers the current state of the adoption of International Public Sector Accounting Standards (IPSAS) across the world and suggests that progress remains slower than is desirable.

ACCA has therefore called for governments, public sector entities and the accounting profession to work together to assist in the implementation of IPSAS worldwide.

According to the report, only few countries have successfully and seamlessly completed the enforcement of IPSAS within their area of action, particularly in Europe, followed by Africa and South & Central America, with Asia at the bottom of the list.

Further data highlighted how the adoption of IPSAS has the potential to radically change accounting and financial reporting in public sectors around the world, and particularly in developing countries.

ACCA Director of Professional Insights Maggie McGhee stressed: “The successful adoption of IPSAS can help provide greater clarity on the financial position of public sector entities around the world, delivering greater accountability and transparency, as well as supporting public bodies in improving financial decision making.”

Top Content

    South Africa: sensing new opportunities

    It has been an interesting couple of years for the profession in South Africa. A number of high-profile scandals have brought the profession and the role of auditors into sharp public focus, brewing a distrust towards accountants and a large expectations gap. Joe Pickard reports.

    read more

    Ghana: a quest for consistency

    Ghana’s current economic profile would suggest a fertile landscape for purveyors of accounting services. But inconsistent approaches to compliance and application of standards – coupled with problems in the banking sector and consequent liquidity constraints – have created a challenging environment. Paul Golden writes.

    read more

    Drone technology: audit takes to the skies

    The movement towards a digitised era has already impacted the auditing profession in a number of ways, from blockchain to artificial intelligence. Now firms are taking to sky and using drone technology in their audits. Mishelle Thurai speaks to Big Four firms to find out more.

    read more

    SBC: a new alliance joins the market

    Jonathan Minter speaks to Paul Tutin, chair of founding firm Streets Chartered Accountants, about why the business and its European partners took the decision to launch their own association.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.