XVII. World Congress of Accountants
updated: 05. 12. 2006
The 17th World Congress of Accountants took place in Istanbul between the dates November 13 - 16, 2006. World Congress of Accountants is organized every four years in a different country by the IFAC - International Federation of Accountants. In 2006 the Congress was co-organized with The Union of Chambers of certified public accountants of Turkey (TÛRMOB) and the Expert Accontants’ Association of Turkey. Approximately 3000 delegates attended the Congress from all around the world. The slogan of the WCOA 2006 Congress was “Accountants: Generating Economic Growth and Stability Worldwide”.
Within the Workshop Government Financial Reporting, the Director General of the State Reporting Section, The Ministry of Finance of the Slovak Republic, Mrs. Katarína Kaszasová had presentation. The aim of her presentation was to provide information about decision of Slovak government to adopt International Public Sector Accounting standards in national accounting and reporting legislation and to improve an overall system of government financial reporting. Presentation included information about results of planning stage and current status of implementation.
Public Sector Accounting Reform has been introduced as an integral part of Public Finance Management Reform. Detailed analysis showed that the present system of public finance accounting and reporting provides neither the full extent of needed financial information, nor relevant, reliable, comparable, timely and understandable financial information. Reform has been realized through three components: 1. preparation of new national public sector accounting and reporting standards adopting IPSAS, 2. system support to implementation of new standards exploiting present system of public finance management, 3. provision of trainings to public finance accountants and users of public finance accounting information. While the component 1 is nearly completed, components 2 and 3 are in the process of realization.
The adoption of new standards is planned on 1 January 2008 and first government consolidated financial statements are expected to be produced and audited as at 31 December 2009. Successful implementation of Public Sector Accounting Reform will significantly improve quality of information necessary for budgeting, expenditure management and the financial management of government operations as well as reporting for external users.
WCOA 2006 information
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Copyright © 2005 Ministry of Finance of the Slovak Republic.