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IFAC Releases Latest Point of View: Greater Transparency and Accountability in the Public Sector

  • IFRS - IFAC Image

Jul 19, 2021

On July 19, 2021, the International Federation of Accountants (IFAC) published a Point of View: “Greater Transparency and Accountability in the Public Sector.”

IFAC notes that the public sector is facing a myriad of competing priorities, including an unprecedented global health crisis and climate emergency, and must make critical decisions that will affect generations to come. In this environment, helping citizens understand how public funds are being managed and spent, as well as the reasoning behind and consequences of decisions made, can meet the heightened need for transparency and accountability necessary to retain and grow stakeholder trust.

IFAC’s Point of View explores the need for strong governance and public financial management (PFM), so that governments and public sector entities around the world can make informed, data-driven decisions for people, the planet, and the economy. It also outlines how the accountancy profession, with its public interest mandate, can support the public sector in achieving long-term financial sustainability and resilience, to help create a better world with stronger economies and fairer societies.

Re­view the full Point of View document on the IFAC's web­site.


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