RegulationCorporate GovernanceCIPFA endorses public sector reporting evolution

CIPFA endorses public sector reporting evolution

IIRC and CIPFA push initiative to to drive more sustainability and transparency into public sector reporting

CIPFA endorses public sector reporting evolution

INCREASED TRANSPARENCY and sustainability reporting in the public sector could be a step closer, following the launch of a CIPFA-backed initiative in the US yesterday.

The Public Sector Pioneer Network was launched at a conference in Washington DC, with World Bank, United Nations Development Programme (UNDP), UK National Health Service (NHS), and the International Public Sector Accounting Standards Board (IPSASB) discussing how integrated reporting should be implemented in the public sector.

The network has been developed by the International Integrated Reporting Council (IIRC) in partnership with CIPFA and participants will be among the ‘first movers’ in public sector integrated reporting. The institute was recently involved in the launch of a global fraud risk register.

Paul Druckman, CEO of the IIRC, said: “Public sector organisations are increasingly challenged with maintaining or improving outcomes within the same or reducing resources. Communicating how, and how well prepared they are, to achieve this will be critical to public accountability.

“Participants in the network will share views and experiences on how integrated reporting can be adapted to be fit for purpose for the public sector, with the end goal of improving transparency and building trust. I call on interested organisations to join the network to ensure it has a global and well informed coverage.”

Speaking at the launch of the network in Washington, Ian Carruthers, CIPFA’s executive director of policy and technical, said: “With around one-third of global GDP made up by the public sector, applying integrated reporting, and even better integrated thinking, could help make the necessary step change in transparency and accountability.

“Through giving a much clearer view of how and where public resources are used, as more and more public sector organisations from across the world take up the transformational challenge of integrated reporting, the understanding and trust of citizens can only increase.”

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