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OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
OECD Public Sector Accruals Symposium - Michal Svoboda
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OECD Public Sector Accruals Symposium - Michal Svoboda

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This presentation by Michal Svoboda was made at the 14th Annual OECD Public Sector Accruals Symposium, Paris 3-4 March 2014. Find out more at …

This presentation by Michal Svoboda was made at the 14th Annual OECD Public Sector Accruals Symposium, Paris 3-4 March 2014. Find out more at http://www.oecd.org/gov/budgeting/14thannualoecdpublicsectoraccrualssymposiumparis3-4march2014.htm

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  • 1. PUBLIC SECTOR FINANCIAL REPORTING IN THE CZECH REPUBLIC – TECHNICAL POINT OF VIEW OECD Paris, France March 3-4, 2014 Michal Svoboda Head of unit Department of Accounting and Audit Ministry of Finance, Czech Republic
  • 2. Pre-phase before 2010 • • • • • • Several legal forms with their own rules and exceptions Financial reporting for central government (since 1970´s) Mix of cash and accrual base Traces of chamber accounting Lack of comparability, relevance, completeness, faithful representation – COULD NOT FIT ACTUAL USERS´ DEMANDS Accountants insist on what their already know: „why do you change something what has been working well since decades?“
  • 3. Initial phase • • • • • 2007 – Political decision on public sector accounting reform • start in 2010 • both central and local governments involved • more than 17 000 accounting entities • Conceptual direction: IPSAS 2008 – conceptual rules set by the act on accounting 2009 – most of technical rules set by the decree and standards January 1, 2010 – START, some rules and methods postponed up to 3 years – decreasing shock Environment of continental European law system – need for very detailed and in-depth rules
  • 4. Conceptual issues • • • • Fully accrual based (pension benefits in following years) statements of • financial position, financial performance, changes in equity, cash flow (indirect method now, direct in the near future), notes IPSAS not implemented, but very close to Consolidation (multi-level) – pilot starts 2014 Financial statements approval – started 2013 • Accountability tool • Pull in deputies and other representatives
  • 5. Technical solution • • • Central System of Accounting Information of the State (CSSAI) – gathering of financial data • Financial statements – quarterly • Statistical reports – quarterly • Operating data (central govt.) – monthly • Budget statements – quarterly and monthly Defined users of CSSAI: • Central govt., esp. MoF • Czech National Bank, Czech Statistical Office • CZ SAI and other control bodies • GENERAL PUBLIC Defined interface (XML), NOT unique SW
  • 6. Central System of State Accounting Information (CSSAI) CSSAI ENTITIES ENTRIES Operational reports Central bank reports CR/DT Entries Central government ALL ENTITIES + Entries for STAT Local government + Entries for central bank SIGINIFICANT ENTITIES Data quality check Reporting area Financial statements Statistical reports Regional offices audit Ministry office audit Public portal “Monitor”
  • 7. Statistical reports (1) • Effective since Q3/2012 • Reporting for Eurostat (ESA 95,…) and Czech National Bank ensured using analytical accounts – information obtained within making initial entries • Reporting < 10 % of public sector entities, but > 85 % of assets covered • Significant change caused significant expenses • Not only more reports, but a brand new system
  • 8. Entities providing full range of records as of Dec. 31st, 2012 TOTAL Central Government 453 16 597 Local Government TOTAL 17 050 as of Sept. 30th, 2013 TOTAL Central Government 490 Local Government 16 563 TOTAL 17 053 PROVIDING ADDITIONAL ENTRIES % ASSETS COVERED [%] no 79% 99% 360 5% 73% 896 1 256 7% 86% PROVIDING ADDITIONAL ENTRIES % ASSETS COVERED [%] no 490 100% 100% 937 6% 72% 1 427 8% 86%
  • 9. Statistical reports (2) • Direct connection between financial and statistical reporting • 17 dynamical reports based on balance sheet and P/L incl. related entities´ recognition and reporting • almost no need for additional statistical surveys and estimates • no need for new semi-statistical financial reporting standards to fulfill STAT requirements
  • 10. Data validity basis
  • 11. Web application „Monitor“ • • • • • • • Portal for general public Accrual next to budget data Drill-down approach „Duel“ – 1 to 1 municipalities´ KPI comparison Open data compliant Dynamical reports and analysis tool (drag&drop pivot tables and charts, time series) Available also in ENGLISH • http://monitor.statnipokladna.cz/en
  • 12. Further development • • • • • • • Nowadays a routine operation Step-by-step towards IPSAS, esp. towards IPSAS CFW Broader and deeper education and methodological support Stress on publicity – general public incl. abroad Getting known about further users´ information needs Brand new webpage with all methodological and technical info, also in ENGLISH, launch 2Q/2014 Uncertainty about EPSAS
  • 13. Contact email: michal.svoboda@mfcr.cz

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