IPSASB Chair, Andreas Bergmann - IFAC Sovereign Debt Seminar Presentation
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IPSASB Chair, Andreas Bergmann - IFAC Sovereign Debt Seminar Presentation - Strategies for Achieving Action
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IPSASB Chair, Andreas Bergmann - IFAC Sovereign Debt Seminar Presentation
- 1. Strategies for Achieving Action Prof. Dr. Andreas Bergmann Chair IPSAS Board The Sovereign Debt Crisis, a Matter of Urgency – from Lessons to Reform Vienna Austria 20 March 2012 Page 1
- 2. Transparency and Accountability Not a blame game • Everybody should do his/her own part! • There’s no excuses, such as – why me/us? – cannot! – don’t know how! – but the others first, please! – let‘s wait and see! – … Page 2
- 3. Transparency and Accountability Urgent need for an integrated system Governmental Accounting Audit Financial Statistics Page 3
- 4. Transparency and Accountability So let’s start with … IPSAS Board • Make use of the window of opportunity to eliminate differences with GFS • Set up a strong conceptual framework, as a firm basis for standard setting • Provide guidance for the (first time) adoption of IPSAS – When coming from a modified accrual system • Have a perspective on sustainability of public finances • Improve governance • Stay a reliable partner … no standard setting activism, no easy compromises Page 4
- 5. Transparency and Accountability Ministries of Finance • Implement IPSAS • Make sure that fiscal policy follows suit – Discuss newly available information with politicians – Define fiscal targets that make use of the now available information (e.g. capital requirements, debt/asset ratios) • Make sure IPSASB is diversely funded – support IPSASB financially Page 5
- 6. Transparency and Accountability Financial Statistics • Make use of the window of opportunity to eliminate differences with GFS • Insist on reliable accounting information Page 6
- 7. Transparency and Accountability Auditors • Audit financial statements, insist on a mandate to do so • Qualify if necessary (or even worse …) Page 7
- 8. Transparency and Accountability Firms • Support the public sector – They don’t pay the highest fees, but will also be there tomorrow! • Be careful with boilerplate … IPSAS aren’t exactly IFRS • As members of the profession be a voice for reforms Page 8
- 9. Transparency and Accountability IFAC and the profession worldwide • Continue with process to improve governance of IPSASB • Engage in the Public Sector – E.g. make it part of your curriculum, give presentations, take part in consultations etc. Page 9
- 10. Transparency and Accountability Objectives • Have an integrated, audited and IPSAS based Financial Accounting and Reporting framework implemented in 70 countries by 2015 (currently about 40) • Have such a framework in place in 100 countries by 2025 • Use this framework for accountability and decision making purposes in all countries implementing it! • Ultimately: Restore trust in governments as reliable economic actors and restore growth! Page 10