IFAC research report on public sector budgetary reporting
04 Jun 2004
A research report on Budget Reporting published by the Public Sector Committee (PSC) of the International Federation of Accountants examines best practices in budget formulation and reporting under differing budget models and government administrative arrangements, and considers whether the PSC should develop an International Public Sector Accounting Standard (IPSAS) on budget reporting.
IPSASs are based (to the extent appropriate) on IFRSs. The report notes that "the International Accounting Standards Board has not established accounting standards for
budgetary reporting by private sector entities." The report may be downloaded from IFAC's Website (no charge, but you must first register).