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March 22, 2011

IFAC chief calls on government

A failure to manage public sector finances could have further dire consequences for governments worldwide, International Federation of Accountants (IFAC) chief executive, Ian Ball has warned.

Speaking at a Chartered Institute of Public Finance and Accountancy’s (CIPFA) conference, Ball said governments need to take financial management more seriously or face situations like the bailouts witnessed in Greece and Ireland.

“I have come to the view that internationally there is a systematic, pervasive, though possibly not deliberate, ignorance of the critical value of good accounting to governments,” Ball says.

Ball recently received the Chartered Institute of Public Finance and Accountancy (CIPFA) President’s Medal for his global contribution to the public sector finance profession.

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