During the Annual Conference of the Chartered Institute of Public Finance and Accountancy (CIPFA), which took place in Manchester, UK, on July 12-13, 2017, the International Federation of Accountants (IFAC) and CIPFA announced the launch of the Public Sector Financial Accountability Index.
The index was developed jointly by IFAC and CIPFA in order to provide an accurate image of the quality of public sector financial reporting and, in particular, an image of accrual accounting and International Public Sector Accounting Standards adoption. The index will be organized as a regularly updated public database including country-by-country information, and the first set of data is to be published in November.
According to Mr. Fayez Choudhury, IFAC CEO, the index “will provide better insight into the extent of global public financial reporting reform, and stimulate further reform”.
Further information is available in the article published on IFAC’s website.