eurostat EPSAS Cell on principles related to EPSAS standards: Interim Report 5th meeting of the Working Group EPSAS 21-22 November 2017 – Luxembourg Directorate C: National Accounts, Prices and Key Indicators Task Force EPSAS – European Public Sector Accounting Standards
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eurostat
EPSAS Cell on principles related
to EPSAS standards:
Interim Report
5th meeting of the Working Group EPSAS
21-22 November 2017 – Luxembourg
Directorate C: National Accounts, Prices and Key Indicators
Task Force EPSAS – European Public Sector Accounting Standards
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EPSAS Cell on Accounting Principles – state of play
Volunteers from BE, FI, FR, IT, DE (federal level and Hessian Court
of Auditors), IPSASB and the ACE participate in this Cell.
4 physical meetings in Luxembourg;
Outcome of the Cell are following reports:
• Progress report – WG in Paris Jul 2016
• Interim report – WG in Rome Nov 2016
• Progress report (oral) – WG in Lisbon April 2017
• Interim report – WG in Luxembourg Nov 2017
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Interim report of November 2017
Background of the Cell's work
The EPSAS outline
Following the opinion of the EFC sub-committee on statistics
work on IA considerations intensified. First exchange on:
• definition of elements,
• recognition/ derecogniton
• measurement basis
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Work of the Cell ─ Background
At the first Cell meeting it was agreed to compile an overview table
comparing the approaches and definitions of principles/ qualitative
characteristics in use:
• in the countries of the cell participants,
• IPSAS, and
• the Commission's own accounting rules.
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Comparison table of principles ANNEX 2
IPSAS / IPSAS1 European Commission Belgium France Finland German Federal MoF 3rd Senate of the Hessian Court of Auditors
Objectives of standard setter Objectives of standard setter Objectives of the standard setter Objectives of the standard setter Objectives of the standard setter Objectives of standard setter Objectives of standard setter
Objectives of financial reporting/GPFRs Objectives of financial reporting/GPFRs Objectives of financial reporting/GPFRs Objectives of financial reporting/GPFRs Objectives for EPSAS CF Objectives of financial reporting/GPFRs Objectives of financial reporting/GPFRs
Users of financial reports Users of financial reports Users of financial reports/GPFRs Users of financial reports/GPFRs Objectives of financial reporting/GPFRs Users of financial reports Users of financial reports
Reporting entity Going concern Users of financial reports/GPFRsFUNDAMENTAL PURPOSES (Basic
objectives)Objectives of financial reporting
GENERAL PRINCIPLE Transparency and information Intergenerational fairness
Faithful representation Stability and intergenerational fairness Financial stability and sustainability