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Outcome of the conference

Outcome of the conference. 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.

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Outcome of the conference

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  1. Outcome of the conference 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. Conference "Towards implementing European Public Sector Accounting Standards" Brussels, 29-30 May 2013 • More than 200 participants (MoF, CoA, NSI, private accountants, academics, …) • 4 sessions (one day and a half) • Political support by President Van Rompuy, Commissioner Šemeta, W. Radermacher, European Parliament, President VítorCaldeira from ECA • Wide range of speakers (EP, ECA, ECB, EUROSAI, IFAC, IMF, IPSASB, FEE, MoF, DG BUDG, DG MARKT, DG ECFIN, academics)

  3. Conclusions of the conference • Political support is growing • EPSAS is a necessary tool for further fiscal and budgetary integration in EU • Ambitious project with medium-term scope • Next step should be a Commission communication, followed by a Framework regulation -> Governance is a first issue to follow-up after the conference.

  4. Overviewofthe EPSAS project 3 stages: Stage 1 (mid-2013–mid-2014): Commission Communication Stage 2 (mid-2014 – end-2015): Framework Regulation:-> Governance structures and procedures Mid-termWorkProgramme Stage 3 (end-2015 – 2020): EPSAS endorsement and stepwise implementation

  5. Overview of the EPSAS project

  6. Commission communication - timetable TF EPSAS Governance 1st meeting 2 Oct 2013 Draft communication Public consultation on EPSAS governance – results by March 2014 TF EPSAS Standards Jan 2014 Inter-service consultation and adoption by the College WG EPSAS March 2014 Study on implementation costs in MS Impact assessment QI 2014 QIII 2013 QII 2014 QIV 2013

  7. Issues to be addressed in the Commission communication - Governance - Task force and public consultation - Costs - Use sample of MS to assess costs - Substance of standards - Analyse difficulties with some IPSAS - Flexibility - Burden for small public sector entities - Resources

  8. Issues to be addressed in the Framework Regulation - Establish the principles (accrual, double entry,…) - Confirm the reference to IPSAS as starting point - Define the governance arrangements - Lay down the process of adoption of individual EPSAS standards

  9. EPSAS endorsement and stepwise implementation - Adoptthenecessarylegislativeacts in order to implement EPSAS standards - Gradual, possibly phased, to be achieved in all Member States in the medium-term (by 2020) • Strong EU governance - Once the Framework Regulation is in place: EPSAS project EPSAS standard setting process

  10. Luca Pacioli, attributed to Jacopo de' Barbari, around 1496 - Wikipedia In 1494 described double-entry accounting in Summa de Arithmetica, Geometria, Proportioni et Proportionalita

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