Implementation of Accrual Accounting in the Public Sector - The Impact on Public Sector

IMPLEMENTATION OF ACCRUAL ACCOUNTING: THE IMPACT ON PUBLIC SECTOR AUDIT December 2008 Implementation of Accrual Accounting: The Impact on Public Sector Audit December 2008 About FEE FEE (Fédération des Experts comptables Européens – Federation of European Accountants) represents 43 professional institutes of accountants and auditors from 32 European countries, including all of the 27 EU Member States. In representing the European accountancy profession, FEE recognises the public interest. It has a combined membership of more than 500.000 professional accountants, working in different capacities in public practice, small and big firms, government and education, who all contribute to a more efficient, transparent, and sustainable European economy. 2 Implementation of Accrual Accounting: The Impact on Public Sector Audit December 2008 CONTENTS 1. Executive Summary 4 2. Objectives of the Study 6 2.1. The trend towards accrual accounting 6 2.2. The impact on public sector audit 6 2.3. Methodology 7 3. Results on the National Level of Government 9 3.1. Introduction of Accrual Accounting by the Analysed Respondents 9 3.2. Contracting of Third Parties 11 3.3. Educational Background 12 3.3.1. Background 12 3.3.2. Education 13 3.3.3. Training in accrual ...