Towards a new area in government accounting and reporting

As a result of the global financial crisis and the subsequent sovereign debt crisis, governments and other public sector entities around the world, notably those in OECD countries, are having to cope with substantial pressure due to restricted budgets, significant debts and stagnant economies. At the same time, Asian, South American and African economies are growing at rapid rates, increasing the demand for public goods and services and infrastructure investments.

This context creates a direct challenge to governments to improve management of resources and reports high-quality information to their stakeholders.

This PwC global survey analyses key aspects of government accounting and financial reporting following three themes:

  • Government accounting and financial reporting, today and tomorrow
  • Making the transition to accrual accounting: benefits and challenges
  • The future of the government finance function