KPMG's Cash to Accrual and IPSAS services look to provide member firms' clients with a broad range of methodologies.
KPMG's services look to provide member firms' clients with a broad range of methodologies.
Accrual accounting improves the quality of general purpose reporting by public sector entities, and can lead to better informed assessments of the resource allocation decisions made by governments, thereby helping in the increase of transparency and accountability. The International Public Sector Accounting Standards Board (IPSASB) has highlighted that the financial and sovereign debt crises have brought to light, as never before, the need for better financial reporting by governments worldwide, and the need for improvements in the management of public sector resources. Strong and transparent financial reporting has the potential to improve public sector decision making and to make governments more accountable to their constituents.
Governments that report on a cash basis do not account for significant liabilities, such as pensions and infrastructure development. As a result, the IPSASB encourages public sector entities to adopt the accrual basis of accounting, which will likely improve financial management and increase transparency resulting in a more complete and accurate view of a government's financial position. Many governments, jurisdictions, and international institutions have already adopted IPSAS, and many more are on the road to implementing the standards.
KPMG's Cash to Accrual and IPSAS services look to provide member firms' clients with broad range of methodologies, including preparing and presenting an impact analysis for the implementation of IPSAS and translating the accounting impacts into tangible actions to help deliver their required changes in the organization's systems, processes, people, and also to the wider business.