COVID-19 accounting tool for governments
22 Jul, 2020
The International Federation of Accountants (IFAC), the Zurich University of Applied Science (ZHAW), and the International Public Sector Accounting Standards Board (IPSASB) have published a tool for governments and other interested stakeholders to apply best practices in public sector accounting when analysing COVID-19-related intervention programs.
The COVID-19 pandemic led governments to deploy significant interventions to support individuals, businesses, the monetary system, and specific sectors, including healthcare. In view of the unprecedented scale of these interventions there is an urgent need to understand their full current and ongoing impacts on public finances as high-quality financial information enhances government decision-making and supports better outcomes for citizens over the medium and longer-term.
The new COVID-19 Intervention Assessment Tool includes:
- A step-by-step process and assessment tool to help assess, evaluate and inform various types of government interventions related to the pandemic; and
- An overview of the way it can support the pathway to accrual International Public Sector Accounting Standards (IPSAS) for governments.
Please click for more information on the IPSASB website.
