2025 Public Sector Accounting and Reporting Conference

Public sector accounting (PSA) and reporting underpin the effectiveness of a public financial management (PFM) system and practice. Enhanced budget accountability and control, transparency of public finances and effective management of assets and liabilities/debt can only be achieved through accurate and reliable financial accounting and reporting. Accounting and financial reporting frameworks based on international standards, such as International Public Sector Accounting Standards (IPSAS), provide rigorous and comprehensive guidelines for recording financial information, management of public sector assets, and disclosing public debt for the whole of government.

According to the International Public Sector Financial Accountability (IPSFA) Index Report (2021), there is significant global progress in the adoption of accrual basis of accounting. Globally, 50% of jurisdictions are expected to report on accrual basis by the end of 2025, and 73% by 2030. The IPSFA contains data from 165 jurisdictions.

For the past few years, IPSAS Board has been meeting in Washington, D.C., hosted intermittently by the World Bank and International Monetary Fund. This is year is the World Bank’s turn to receive IPSAS members in their premises. Thus, this event is a prelude to the IPSAS Board meeting, which will take place from March 18 to 21, 2025.

OBJECTIVE

The main objective of the event is to explore the status of implementation of public sector accounting reforms at country level, discuss the trends and challenges, as well as to trace the path of the future public financial management reforms, including adoption of sustainability reporting in public sector.