By Dawn Cowie, includes “… The IPSAB interviews reveal the challenges involved in making the transition to accrual accounting and International Public Sector Accounting Standards (IPSASs): these include the difficulty of overhauling financial systems and processes to log income and expenditure on a daily basis, retraining staff, and educating politicians about how to use the new information. However, they also make clear that accrual accounting brings many benefits – such as more reliable, transparent and timely financial reporting; better decision-making by politicians and public officials; and greater transparency and clarity, resulting in better use of taxpayers’ money. …”
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