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Education undisputedly plays a central role in IPSAS-based PSA reforms. Using a socio-materiality perspective, the authors highlight a misalignment between human and technical aspects when implementing these reforms. Their analysis of past reforms in emerging economies suggests that the educational development of public sector accountants does not receive the same level of attention as the technical advancements set out to be achieved. By introducing a conceptual distinction between initial and continuous accounting education, the authors emphasize the relevance of continuous professional development when conceptualizing PSA reforms. They conclude that a successful accounting change requires a co-ordinated and integrated approach on developing human and technological capacity.

Systemische Standortentwicklung bedeutet, ganzheitlich zu denken und zu handeln, verschiedene Akteurinnen und Akteure an einen Tisch zu bringen, Menschen und technische Möglichkeiten zu vernetzen und die Interaktionen auf ein gemeinsames Ziel, Wert oder Problem auszurichten.

Die staatliche Finanz- und Budgetpolitik muss neu gedacht werden. Seit 3'000 Jahren hat sie sich kaum geändert – sie bleibt ein Relikt aus der Römerzeit. In diesem Blog stellen Kevin Andermatt und Sandro Fuchs den Wellbeing-Ansatz von Neuseeland vor.

Vom Verwalten zum Mitgestalten: Regionale Entwicklung bedingt in Innovationsnetzwerken zu denken, und diese auf ein gemeinsames Ziel auszurichten. Die Standortentwicklung übernimmt die Rolle als regionale Innovationsplattform. Eine solche Plattform benötigt ein Steuerungsmodell, das auf systemische Innovation ausgerichtet ist.

Das (westliche) staatliche Rollenbild verändert sich. Aus ökonomischer Sicht geht es nicht mehr nur darum, dass der Staat Marktversagen beseitigt und zwischen Abnehmer und Produzenten vermittelt, sondern aktiv «Public Values» erschafft. Mazzucato (2018, 2016) spricht von einem «Enterpreneurial State», einem innovierenden, wertschöpfenden und strategisch agierenden Staat im Zusammenspiel mit verschiedenen Akteuren (Ko-Kreierung).

Die strategische und finanzielle Führung der öffentlichen Verwaltung muss sich grundlegend ändern, um komplexe Herausforderungen des 21. Jahrhunderts zu adressieren, und die neue staatliche Rolle als Wertschöpferin und Innovatorin zum Leben zu erwecken. Dieser Artikel diskutiert drei zukünftige Handlungsfelder.

Finanzberichte dienen als wichtige Informationsquellen, sind jedoch häufig sehr detailliert und komplex. Data Storytelling hilft dabei, die Kernbotschaften aus Zahlen, Daten & Fakten in sprachliche und visuelle Narrative zu verpacken und wirkungsvoll zu kommunizieren und den gesellschaftlichen Nutzen aus dem öffentlichen Finanzmanagement zu erhöhen.

World Bank PULSAR knowledge product, This PULSAR knowledge product elaborates mechanisms through which asset accounting may contribute to optimize fixed asset portfolios of governments by providing scientifically sound and practical answers to the following main questions: - How are fixed assets recorded in an asset registry? - How is fixed asset information captured in financial reports? - How can the best use of asset information be made? The paper further presents good practices rooted in international country experience and relevant standards, such as the International Public Sector Accounting Standards (IPSAS). It also discusses key issues and challenges related to fixed asset management through the lens of public sector accounting.

Öffentliche Planungs- und Steuerungsinstrumente sollen eine ganzheitliche und wirkungsorientierte Verwaltungsführung unterstützen. Im vorliegenden Beitrag werden die Grenzen und Herausforderungen dieser Instrumente im Kontext der Schweizer Kantone vertieft betrachtet. Die Ergebnisse zeigen, dass die Kantone Steuerungsinstrumente in unterschiedlichem Ausmass einsetzen und dass die Instrumente begrenzt aufeinander abgestimmt sind. Dies lässt sich erklären durch die politische, institutionelle und kulturelle Prägung der Planung und Steuerung. Darauf aufbauend diskutiert der Beitrag, wie Steuerungssysteme weiterentwickelt werden können, um dem «Zeitgeist» des 21. Jahrhunderts zu entsprechen.

The PULSAR Program, launched in 2017, is a regional and country level program for 13 beneficiary countries in Europe and Central Asia. Its objective is to support the enhancement of public sector accounting and financial reporting frameworks, in line with international standards and in accordance with good practices, in order to improve government accountability, transparency, and performance. The objectives and scope of the PULSAR Program are jointly determined by the PULSAR Partners - Austria, Switzerland, and the World Bank – who also provide institutional support for its implementation and mobilize the resources needed for its activities. Beneficiary countries help shape the Program through regional cooperation platforms and input to two Communities of Practice focused on financial reporting frameworks and on education. The FINCOP supports government officials in developing reform strategies & roadmaps, and helps to define and implement improved legislation, standards, IT systems, and tools in the respective countries. The Benchmarking Guide for Integrating Public Sector Accounting and Government Finance Statistics aims to inform practitioners and public sector accounting reforms by highlighting the similarities and differences between International Public Sector Accounting Standards and Government Finance Statistics reporting guidelines such as the Government Finance Statistics Manual of the International Monetary Fund (GFSM 2014) and the European System of Accounts (ESA 2010). This Guide facilitates an integrated view of the two sets of reporting guidelines and outlines a process to more closely align them. It also discusses fundamental challenges and corresponding mitigation strategies. In the Guide’s presentation of key conceptual issues, care was taken to maintain consistency with the technical guidelines of the reference frameworks. Nevertheless, it is recommended that the original sources are consulted with regards to specific technical questions related

Public sector or government accounting has been the subject of many research endeavors. However, scholars have repeatedly criticized the lack of a consistent and well-defined theoretical basis for international research. So far, most researchers have drawn from various streams of theoretical perspectives with often unsatisfactory results. The goal of this paper is to put forward the International Public Sector Accounting Standards Board’s (IPSASB) Conceptual Framework as a point of reference for establishing a better-fitting theoretical basis for public sector accrual accounting research.

While corporate research has investigated the economic consequences of IFRS adoption, there is only limited evidence on the impact of modern accrual accounting systems (MAAS) in the public sector context. To fill this gap, we examine the economic effects of MAAS implementation on Swiss state level, taking into account different types and magnitudes of reforms.

Changes to the organizational composition of the public sector introduced by New Public Management-style reforms, leading to contracting-out and privatization in their various forms have led to an increased decentralisation of responsibilities in accounting in the public sector. These reforms have not only been done for the reasons of finding adequate forms of organizing public sector activities, but very often the in the German-speaking world used expression “escape out of the budget” was pursued for the purpose of hiding public debt. It has now become widely accepted by those investigating financial reporting requirements in the public sector, that the consolidated financial statement (CFS) is a useful instrument for governments dealing with publicly-owned entities, because it presents a clear picture of the current economic status and functioning of the whole inter-related Group (Chow et al., 2007; Grossi and Newberry, 2009; Wise, 2010). As in the private sector, also in the public sector a need for more harmonized accounting practices has arisen among countries. Maybe the best way to reach the aim of more harmonization of financial reports is to follow the International Public Sector Accounting Standards (IPSAS), issued by the International Public Sector Accounting Standards Board (IPSASB), which provide rules for preparing both annual and consolidated financial statements. The IPSAS 6-8 suggest control as the leading criterion to define the scope of consolidation, and by operationalizing it adapt the concept for the specific characteristics of the public sector. With the rising importance of these single public sector accounting standards being used internationally, it can be expected that more and more countries also switch to the respective suggestions for CFS. But is it really this way? This paper therefore aims to answer the following research questions: 1. What is the state of CFS in OECD countries? 2. What consolidation methods are used? 3. Are they influ

Usually, the financial performance of central banks (CB) tends to draw little attention on a global scale. However, the financial crisis and subsequent (unconventional) policy interventions by various CB have resulted not just in balance sheets expanding to record levels but also lead to changing asset compositions. Such interventions have undoubtedly intensified the debate about central bank financial statements. If the public wants to finds reasons for criticism, then an easy target may be central bank’s balance sheets, and more specifically, central bank capital. Since the Swiss National Bank (SNB) has capped the currency peg against the Euro at the beginning of 2015, the SNB recorded substantial capital losses of around 50bn CHF. Further losses might even lead to negative capital levels in the future, as experienced by the Czech national bank in the last years. This puts the role of CB capital, its determinants, and the potential risk of CB insolvency in question. While there exists comprehensive research about the economic implications of negative CB capital, as for example the impact on inflation rates, there exist little evidence about the role, importance and appropriate level of CB capital from a financial reporting and accounting perspective. Some CB, as for example the Reserve Bank of New Zealand, actively manages its capital buffers with respect to its assets in order to mitigate credit and marked risks. Others argue that the level of CB capital is less important and that it is possible to operate a CB under negative capital. Hence, this paper is a first attempt to shed light on the following two research questions, particularly from a financial accounting and reporting perspective: What is the role and importance of CB capital in OECD countries? What are the consequences of negative CB capital levels (i.e. balance sheet insolvency)? This paper is based on a comprehensive literature review and cross-sectional evidence of all 36 OECD CBs, thereby scrutini

The Public Sector Accounting and Reporting (PULSAR) Program, launched in 2017, is a regional and country level program in 13 beneficiary countries in Europe and Central Asia. Its objective is to support the enhancement of public sector accounting and financial reporting frameworks, in line with international standards and in accordance with good practices, in order to improve government accountability, transparency, and performance. The objectives and scope of the PULSAR Program are jointly determined by the PULSAR Partners - Austria, Switzerland, and the World Bank – who also provide institutional support for its implementation and mobilize the resources needed for its activities. Beneficiary countries help shape the Program through regional cooperation platforms and input to two Communities of Practice focused on financial reporting frameworks and on education. The Financial Reporting Frameworks Community of Practice (FINCOP) supports government officials in developing reform strategies & roadmaps, and helps to define and implement improved legislation, standards, IT systems, and tools.

Die seit der Eurokrise neu entflammte Debatte um «exzessive» Staatsschulden und ihren Einfluss auf den Wohlstand der Nationen vernachlässigt, was diesen Schulden in den Staatsbilanzen gegenübersteht. Es ist Zeit, den Fokus auf staatliche Infrastruktur und Vermögenswerte zu richten.

The government’s public financial management (PFM) Reform Program 2016-2020 foresees the gradual transition of public sector financial reporting from a cash basis to an accrual basis of accounting and the application of International Public Sector Accounting Standards (IPSAS). This will significantly improve the quality of financial information and should enable better informed decision-making, more efficient use of public funds and resources and improved fiscal performance. This Report on the Enhancement of Public Sector Financial Reporting is one output of the Serbia Public Sector Accounting Reform Technical Assistance project funded by the Swiss State Secretariat for Economic Affairs (SECO) through the Strengthening Accountability and Fiduciary Environment (SAFE) Trust Fund under the Public Sector Accounting and Reporting Program (PULSAR) which provides support for the development and implementation of public sector accounting standards. This report supports the development of a plan towards that goal by assessing the institutional framework for public sector accounting as well as the gap between Serbian public sector generally accepted accounting principles (PS GAAP) and IPSAS.

Das Institut für Verwaltungs-Management der ZHAW (Auftragnehmer) wurde vom Staatssekretariat für Internationale Finanzfragen SIF beauftragt a) eine Marktanalyse, b) eine Regulierungskostenanalyse sowie c) eine Anspruchsgruppen- und Nutzenanalyse zum Finanzinstitutsgesetz FINIG durchzuführen. Untersuchungsgegenstand bilden bisher nicht (prudentiell) beaufsichtigte Finanzdienstleister, also die „unabhängigen“ bzw. „externen“ Vermögensverwalter (folgend als UVV bezeichnet). Demgegenüber sind Vertriebsträger kollektiver Kapitalanlagen sowie Versicherungsvermittler nicht Gegenstand dieser Analyse. Ebenso wurden Fragen zur geplanten erweiterten institutionellen Aufsicht (z.B. Aufsicht durch AOs oder alternativ durch die FINMA) im Rahmen dieser Regulierungsfolgenabschätzung nicht untersucht. Basis für die Regulierungsfolgenanalyse bildet der Vernehmlassungsentwurf zum Finanzinstitutsgesetz vom 25. April 2014. Aufgrund offener Detailfragen zur geplanten institutionellen Aufsicht von UVV, die im Rahmen einer Gesetzesverordnung festgelegt werden (z.B. Gebührenrahmen), mussten im Rahmen der Analyse Annahmen getroffen werden, welche die Aussagekraft der Studie – und insbesondere der Kostenanalyse – massgeblich beeinflussen. Zentrale Annahme ist, dass sich die geplante prudentielle Aufsicht für UVV an den (aktuellen) Bewilligungsvoraussetzungen und -Gebühren für Vermögensverwalter nach KAG orientiert. Allerdings scheinen für UVV gewisse regulatorische Erleichterungen, beispielweise in Bezug auf die organisatorischen Voraussetzungen oder Revisionsvorschriften, vorgesehen. Zudem sollen nicht sämtliche UVV einer prudentiellen Aufsicht unterstellt werden (Stichwort „Grandfathering“). Zwar wurde im Rahmen der Kostenanalyse versucht, mögliche regulatorische Erleichterungen zu berücksichtigen, trotzdem repräsentiert folgende Kostenschätzung einen tendenziell hohen, oberen Regulierungskostenrahmen. Bereits bestehende Handlungspflichten in Bezug auf die GwG, welche durch die Anschlussver

Purpose: While corporate research has investigated the economic consequences of IFRS adoption, there is only limited evidence on the impact of modern accrual accounting systems (MAAS) in the public sector context. To fill this gap, we examine the economic effects of MAAS implementation on Swiss state level, taking into account different types and magnitudes of reforms. Design/Methodology/Approach: Based on public transition reports, we manually compile a database representing the full sample of all 26 Swiss cantons. The assessment framework allows us to eliminate time effects giving rise to counterfactual evidence, since transition reports include original and restated values for the same reporting period. We use Wilcoxon signed-rank test and Pearson correlation analysis to draw our main findings. Findings: We find significant economic impact resulting from MAAS implementation, therefore containing decision-relevant information for internal and external stakeholders. Strong impact correlations between economic effects and magnitudes of accounting reforms can be found, with IPSAS having the largest economic consequences. Key finding is, that the implementation of MAAS might lead to a higher valued economic substance with assets increasing more than liabilities. This, in turn, has an direct impact on equity numbers and other key financial indicators. Originality/Value: To our best knowledge this is the first paper that investigates the impact of MAAS implementation. Therefore, it complements the existing public financial management literature and sets the base for further research in this area.

Dans le cadre de l’avant-projet de modernisation du droit de la société anonyme, l’Office fédéral de la justice nous a mandatés pour effectuer une analyse d’impact de la réglementation (AIR) couvrant 5 thèmes spécifiques, soit: A.Représentation de chaque sexe au sein du conseil d’administration et de la direction B.Abrogation de la libération partielle du capital C.Réglementation des indemnités pour prohibition de faire concurrence et des primes d’embauche D.Interdiction des votes prospectifs pour les rémunérations variables E.Précision du devoir de diligence Forts du constat initial qu’il n’était raisonnablement pas possible de chiffrer les conséquences des 5 thèmes ci-dessus, nous nous sommes orientés essentiellement vers des éléments qualitatifs – en accord avec le mandant – qui ne sont de factopas représentatifs (statistiquement parlant).

In the German-speaking countries, the concept of performance budgeting occurred in the mid-1990s as an element of the countries’ broader NPM-concepts, namely the “new steering model” (Neues Steuerungsmodell) in Germany and “outcome-oriented steering” (Wirkungsorientierte Verwaltungsführung) in Switzerland, which also had influences on Austria. The concepts share the shift in focus from resources to results of government activities (Schedler/Summermatter 2009).From an international perspective, there is an ever increasing interest in performance budgeting as documented by the latest OECD study (2007). The best-known, earlier approaches to performance budgets, like the Planning-Programming-Budgeting system (PPBS) in the 1960s, Management by objectives (MBO) and Zero-based budgeting (ZBB) in the 1970s are said to have failed or were unpractical for the one or the other reason, leading Schick (2007) to his famous saying: “Performance budgeting is easy to explain but has been hard to implement.” In October 2011, IPSASB started the consultation process on its paper on Reporting Service Performance Information. The consultation was concluded in April 2012 and received over 30 comments. It is now planned to issue a Recommended Practice Guideline (RPG) for those public sector entities applying IPSAS.In Switzerland, performance budgets are generally referred to as “Globalbudgets”. Especially state (canton) and local governments have long experience with such reforms as they were early birds when they first introduced performance budgeting in the 1990s (Bergmann, 2009). At the moment, 11 out of 26 cantons have adopted performance budgets, covering nearly 65% of the financial volume of all cantons (measured in expenses of the current budget). The earliest experiences (Zurich) are dating back to 1995, with the latest canton (Schwyz) having switched to a new model of budgeting in 2011 (Econcept, 2011). Looking at the state of local financial management, performance budgeting has

Purpose: While corporate research has investigated the economic consequences of IFRS adoption, there is only limited evidence on the impact of modern accrual accounting systems (MAAS) in the public sector context. To fill this gap, we examine the economic effects of MAAS implementation on Swiss state level, taking into account different types and magnitudes of reforms. Design/methodology/approach: Based on public transition reports, we manually compile a database representing the full sample of all 26 Swiss cantons. The assessment framework allows us to eliminate time effects giving rise to counterfactual evidence, since transition reports include original and restated values for the same reporting period. We use Wilcoxon signed-rank test and Pearson correlation analysis to draw our main findings. Findings: We find significant economic impact resulting from MAAS implementation, therefore containing decision-relevant information for internal and external stakeholders. Strong impact correlations between economic effects and magnitudes of accounting reforms can be found, with IPSAS having the largest economic consequences. Key finding is, that the implementation of MAAS might lead to a higher valued economic substance with assets increasing more than liabilities. This, in turn, has an direct impact on equity numbers and other key financial indicators. Originality/value: To our best knowledge this is the first paper that investigates the impact of MAAS implementation. Therefore, it complements the existing public financial management literature and sets the base for further research in this area.

Bei der Erfüllung seiner Aufgaben ist der öffentliche Sektor einer Vielfalt von Chancen und Risiken ausgesetzt. Gleichzeitig verfügt der öffentliche Sektor bislang nicht über anerkannte Standards im Risikomanagement. Das Interne Kontrollsystem (IKS) vermag das Risikomanagement nicht zu ersetzen. Konzepte und Begriffe im Risikomanagement sind uneinheitlich und lückenhaft. Konsolidierungsregeln (Vergleichbarkeit, Korrelation, Aggregation) für ein integriertes Risikomanagement auf der Ebene der Exekutive (sog. Corporate-Ebene) fehlen im öffentlichen Sektor, obwohl der Staat mit seinen hierarchischdezentralen Strukturen einer besonders ausgeprägten Konsolidierungsproblematik gegenübersteht. Diese Situation erschwert die Führung von öffentlichen Verwaltungen (Governance) sowie einen nachhaltigen, effizienten und effektiven Umgang mit öffentlichen Mitteln. Das Projekt entwickelt im Rahmen der in der INTOSAI-Richtlinie 9130 für ein umfassendes Risikomanagement festgelegten Prinzipien (2007) für eine schweizerische Grossstadt ein mit dem IKS abgestimmtes Risikomanagement. Es untersucht den dafür erforderlichen kulturellen Veränderungsprozess und evaluiert die Einführung eines integrierten Risikomanagements in einer schweizerischen Grossstadt.

Dieser Artikel befasst sich mit der Berichterstattung über zweckgebundene Spenden. Im Fokus stehen die theoretischen Grundlagen des Fondsaccountings sowie die (rechnungslegungstechnischen) Herausforderungen im Zusammenhang mit der Umsetzung von Fondsrechnungen. Obwohl mit FER 21 geeignete institutionelle Rahmenbedingungen vorhanden sind, um den Spenderwillen zu schützen, liegt die sachgerechte Umsetzung des Fondsaccountings in der Eigenverantwortung jeder Organisation. Die Krux liegt im Aufbau eines flexiblen Fondssystems, welches transparent ist, den Spenderwillen schützt, aber die organisatorische Freiheit nicht zu stark einschränkt.

In recent years risk management standards have been established (inter alia COSO, 2004; ASZ/NS ISO 31000, 2009; ONR 49000, 2010; TBS, 2010), some specifically for the public sector (INTOSAI 2007) - highlighting the “management of opportunities” (MOO). Although risk management is considered to be part of good governance in public administration today it still focuses mainly on the management of “downside” (or “negative”) risks. Possible explanations may be that: the standards themselves provide little guidance on how to deal with opportunities; there is little practical experience in the MOO within the context of risk management in the private sector.