The International Federation of Accountants (IFAC) and the Zurich University of Applied Sciences (ZHAW), in partnership with the International Accounting Standards Board (IPSASB)  have published a practical accounting tool for governments and other interested stakeholders to help analyse Covid-19 intervention programmes.

By the end of May, the International Monetary Fund (IMF) suggested that $9 trillion had been spent by governments around the world on fiscal support. IFAC noted that understanding the design of these interventions, how they are delivered and funded, as well as their impact on the financial position of governments, is critical to manage current challenges and secure sustainable public finances in the future.

The 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;
  • An overview of the pathway to accrual IPSAS for governments.

IFAC executive director  Alta Prinsloo said: “Government accounting is not the first priority that comes to mind when people think about the current pandemic. Yet, there’s evidence that having a comprehensive and well-managed balance sheet supports strong public programs, including for healthcare and economic wellbeing.

“It’s never too late for countries to adopt accounting best practices, including accrual-based International Public Sector Accounting Standards (IPSAS), and we hope this guidance will help governments make the case for doing so.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.