New alliance between Ernst & Young and CIPFA aims to increase transparency and comparability of public sector finances

Ernst & Young and the Chartered Institute of Public Finance and Accountancy (CIPFA) have announced an alliance to help organizations and governments around the world to improve their public financial management (PFM) systems and arrangements. This alliance focuses particularly on offering public and not-for-profit organizations support with the implementation of International Public Sector Accounting Standards (IPSAS). IPSAS have been developed and are maintained by the Independent Public Sector Accounting Standards Board (IPSASB). Like IFRS in the private sector, they constitute a comprehensive suite of modern international standards for governments and other similar entities. This initiative brings together Ernst & Young’s experience working on IPSAS projects around the world and CIPFA’s experience in professional capacity development and certified financial management training. See full Press Release.