Task Force on International
Public Accounts Standards
OECD National Accounts Experts
meeting, Paris
October, 2003
Lucie Laliberté
Statistics Department
International Monetary Fund
Worldwide trend toward greater accountability and
transparency in government finances:
1993 SNA/ ESA 95 is the umbrella standard for macroeconomic
statistics, of which Government Finance Statistics 2001 (GFSM
2001). Statistical standards are being updated.
As there are no authoritative accounting sector for the public sector,
the International Federation of Accountants Public Sector Committee
(IFAC PSC) has issued as of September 2003 21 standards for
public accounting.
In response to rising concerns by users who are experiencing
difficulties in understanding and reconciling the macro (statistical)
and micro (public accounting), an international project was launched
in 2003 for the greater harmonization between statistical and public
accounting systems at this critical juncture of both systems being
under review.
International Public Sector
Accounting Standards (IPSAS)
Aim of IPSAS is to improve public sector financial
management and accountability and their adoption by
governments
21 IPSAS issued by IFAC PSC (20 standards on the
accrual basis of accounting and one on the cash basis)
Harmonized with the International Accouting Standards
(IASs)/International Financial Reporting Standards
(IFRSs) issued by the International Accounting
Standards Board (IASB)
Project for further harmonization of
public sector accounting
A follow up to:
February 2003 OECD Annual Accruals Symposium in
Paris
June 2003 GFS/1993 SNA/ESA 95/IPSAS
Convergence Working Group meeting in Washington
October 2003 Steering Committee on a Task Force on
International Public Accounts in Paris
Steering Committee on Task Force
on International Public Accounts
Composed of IMF, OECD, Eurostat, European
Central Bank, IFAC, IASB together with individual
countries
Identified detailed lists of differences
– between IPASs and GFS
– among 1993 SNA, ESA 95 and GFS
Prioritized these differences for submission to the
Task Force.
Task Force on International Public
Sector Accounting (TFIPSA)
Aim: Study the feasibility of harmonizing
differences in international statistical
standards and government accounting.
Outputs:
– Establish list of government related issues for
ISWGNA consideration in updating 1993 SNA
– Establish a list to encourage harmonization
between IPSAS and GFS for consideration by
the PSC and GFSM 2001
Organizational Structure of TFIPSA
Chaired by the IMF, with OECD Secretariat
Two Working Groups:
– one focusing on data sources (IPSAS/GFS) led by PSC,
– one focusing on statistical outputs (GFS/1993 SNA/ESA 95) led
by the OECD.
Composition: National macroeconomic statisticians and
public accountants as well as standard setters and
international/supranational organizations.
Schedule of meetings:
– February 2004
– February 2005
Convergence
The International Task Force has been
recognised as an ISWGNA task Force
A first list of possible clarifications/changes
needed in the SNA for convergence has
been forwarded to the ISWGNA
Objective: draft a special Annex / chapter
of the SNA on general government
accounts
Issues for discussion
Five issues for discussion in 2004
– Capital injection / super dividends
– Privatisation / restructuring agencies / securitisation
– Guarantee / contingent assets / provisions /
constructive obligations
– Public / private delineation
– Tax revenue / tax credits / uncollectable tax
In the mandate, the inclusion in this annex of the
issues discussed in the European « Manual on
Government Deficit and Debt ».
Next steps
The task force will be invited by the OECD Accrual
Symposium (network of Senior Budget Officials) to
present its first results
Meeting 9-10-11 February 2004
Experts on general government from national accounts
will be invited
Draft agenda:
– Discussions on the set of priority items for convergence
– Comparability of general government perimeter (universities,
hospitals, local energy and transport enterprises,...).
– Exchange on the use of the databases developed by the
different international standards
Conclusion
This is a priority program in the view of the
Statistics Directorate of the OECD:
Objective: serve our main users (macroeconomists inside and outside the OECD) by
enhancing the relevance and the comparability
of the national accounts data on general
government.
Means: international task force, national
accounts meetings, consultations of member
countries, and practical recommendations for
implementation