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Key principles for EPSAS Governance

This report highlights the key principles for EPSAS governance, emphasizing relevance, competence, credibility, and capacity. It identifies limitations in current accounting practices and the suitability of IPSAS in the context of EDP. Inspired by European statistics law, code of practice, and good governance framework in the public sector.

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Key principles for EPSAS Governance

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  1. Key principles for EPSAS Governance Task Force "EPSAS Governance"2 October 2013 – Ampere, BECH building Directorate D: Government Finance Statistics (GFS) Unit D.4: GFS Quality Management and Government Accounting

  2. Background • Eurostat report on the suitability of IPSAS for the Member States (+ SWD) • Identifies limitations in current accounting practices and IPSAS in the context of EDP • EPSAS Conference • Discussed some key characteristics of EPSAS governance: relevance, competence, credibility, capacity • A set of key principles is needed as the basis of a future set of accounting standards

  3. Key principles • Inspiredby: • The governance principles of the Statistical Law (Regulation (EC) No 223/2009 on European statistics) • The European Statistics Code of Practice • The recent JOINT CIPFA/IFAC consultation draft on an International Framework on Good Governance in the Public Sector • (https://www.ifac.org/sites/default/files/publications/files/Good-Governance-in-the-Public-Sector.pdf) to be taken into account in the context of the discussion of the EPSAS Governance

  4. Principles described in Article 2 of Regulation (EC) 223/2009 Professional independence Impartiality Objectivity Reliability Statistical confidentiality Cost effectiveness

  5. Principles described in the Code of Practice • Professional independence • Mandate for data collection • Adequacy of resources • Commitment to quality • Statistical confidentiality • Impartiality and objectivity • Sound methodology • Appropriate statistical procedures • Non-excessive burden on respondents • Cost effectiveness • Relevance • Accuracy and reliability • Timeliness and punctuality • Coherence and comparability • Accessibility and clarity

  6. Principles described in CIPFA/IFAC consultation draft • Strong commitment to integrity, ethical values, and the rule of law • Openness and comprehensive stakeholder engagement • Defining outcomes in terms of sustainable economic, social, and environmental benefits • Determining the interventions necessary to optimize the achievement of intended outcomes • Developing the capacity of the entity, including the capability of its leadership and the individuals within it • Managing risks and performance through robust internal control and strong public financial management • Implementing good practices in transparency and reporting to deliver effective accountability

  7. EPSAS Governance Principles

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