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COVID-19 accounting tool for governments

  • PSAS - IPSASB Image
  • IFRS - IFAC Image

Jul 22, 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 analyzing 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.

For more in­for­ma­tion refer to the IPSASB website.

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