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Events

Strengthening Fiscal Transparency & Government Accounting

October 8, 2013

Washington DC

The seminar presents a forum to promote fiscal transparency and discuss opportunities and challenges in strengthening government accounting, including the role of International Public Sector Accounting Standards (IPSAS).

Event Details
  • Date: : October 8, 2013
  • Location: : World Bank J Building, Room J B1-080

The objective of the seminar is to use the Annual Meetings as a forum to promote fiscal transparency and to increase the awareness of IPSAS as a global public good and a tool for development.  The discussion will focus on the benefits that governments could derive from implementing IPSAS and the involvement of multilateral institutions with the IPSAS Board. There will also be an opportunity to seek feedback from the World Bank’s clients on their specific needs, their views of IPSAS, and the impediments which they may face with regard to adopting IPSAS and/or other accounting standards. The IMF will also be using this forum to launch the new Fiscal Transparency Code. 

Bertrand Badré, Managing Director of Finance and World Bank Group Chief Financial Officer, will provide welcoming remarks. Gerd Schwartz, Deputy Director, Fiscal Affairs Department at the International Monetary Fund, will be a key note speaker for the event.  

The event will comprise two panel discussions. The panelists will share their views on the importance of fiscal transparency in light of the lessons learned from the recent financial crisis and the IMF’s efforts to revitalize the fiscal transparency agenda through revisions to its Fiscal Transparency Code and development of a new Fiscal Transparency Assessment. 

The first panel, moderated by Richard Hughes, Head of the IMF’s Public Financial Management Division, will look at the role of international institutions, rating agencies, think tanks, and civil society organizations in promoting greater fiscal disclosure by governments.

The panel chaired by Mr. Charles McDonough, Vice-President and Controller of the World Bank, will focus on the importance of accrual accounting, opportunities and challenges with its implementation and role that the International Public Sector Accounting Standards play for transparency and quality of government accounting.

10:00-10:10: Welcoming Remarks
Speaker: Mr. Bertrand Badré, Managing Director, Finance & WBG Chief Financial Officer

10:10-10:30: Keynote Speech
Speaker: Gerd Schwartz, Deputy Director, Fiscal Affairs Department, IMF

10:30-11:30: Strengthening Fiscal Transparency Standards and Practices
Chair: Richard Hughes, Division Chief, IMF Fiscal Affairs Department

Panel:

  • Dr. Jo Marie Griesgraber, Executive Director, New Rules for Global Finance Coalition
  • Moritz Kraemer, Managing Director & Chief Rating Officer for Sovereigns, Standard & Poor’s
  • Phil Sinnett, Chair, PEFA Secretariat
  • Vivek Ramkumar, Director, International Budget Partnership

11:30-11:45: Coffee Break

11:45-12:45: Improving Government Accounting
Chair: Mr. Charles McDonough, Vice President & Controller, World Bank
Panel:

  • Devantri Kaur, Director, Accrual Accounting, Accountant General’s Office, Government of Malaysia
  • Fayez Choudhury, CEO, IFAC
  • Gerhard Steger, Budget Director, Government of Austria
  • Ron Salole, Deputy Chair, IPSAS Board

12:45-13:00: Concluding Remarks

  • IMF Website

    The IMF’s website offers a host of information on fiscal transparency and good governance and why they are critical to achieving and sustaining macroeconomic stability and high-quality growth.  Read More »