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Government Accounting

Public Sector Financial Reporting Government Accounting : The role of the Department of Finance 18 th November 2010. Government Accounting. Accounting Policy Internal Audit Risk Management Policy. Context. Public vs. Private Environment Accountability or planning. Context.

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Government Accounting

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  1. Public Sector Financial ReportingGovernment Accounting : The role of the Department of Finance18th November 2010

  2. Government Accounting • Accounting Policy • Internal Audit • Risk Management Policy

  3. Context • Public vs. Private • Environment • Accountability or planning

  4. Context • Government Accounting • Focus • Umbrella term

  5. Financial Reporting • What is it?

  6. Financial Reporting • Focus of the Reports • Historical • Departments and not whole of Govt.

  7. Rule making bodies • Private • Public • International Developments

  8. Rule making DOF • PFP • Circulars • Legislation / Regulation • Codes of Practice

  9. C&AG • Role • Mandate

  10. Rule Making • The Future • Who can influence it

  11. Government Accounting Section • Outputs / Outcomes • Guidance • Sanction • Audit Queries

  12. Government Accounting • Promoting Best Practice in Government Accounting

  13. Internal Audit • Mullarkey • Development of the IA function • Training of Auditors • Promoting Best Practice in IA • Current focus on IA from “Outside”

  14. Risk Management • From Where • Why • Promote Best Practice

  15. Other • PAC • Advice on Legislation • Better Financial Reporting

  16. Other • International Developments • Performance Budgeting • Accrual Accounting • OECD/NESC reports • Any other emerging trends in Public Sector Financial Reporting

  17. Summary • Why does Government Accounting exist • Impact on Public Sector Financial Reporting

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