- Funding Programme
- Technical Support Instrument (TSI)
Supporting the implementation of accrual IPSAS/EPSAS-based accounting in the Italian public administration
The Commission has already supported Italy with various reforms in the field of public accounting and it has improved the institutional setting for delivering the implementation of IPSAS/EPSAS-based accrual accounting reform.
Against this background, the State General Accounting Department of the Italian Ministry of Economy and Finance (Ragioneria Generale dello Stato - RGS) foresees the implementation of accrual accounting partially, taking into consideration the specific needs and suitability of the Italian context, using the International Public Sector Accounting Standards (IPSAS) and the European Public Sector Accounting Standards (EPSAS) as a reference point and as a basis.
The Commission has already supported the Ragioneria Generale dello Stato through an SRSP project in designing the IPSAS/EPSAS-based accrual accounting reform in the Italian public administration. The design of the IPSAS/EPSAS-based accrual accounting system has been completed through the production of an action plan, which is based on the technical support received. In line with the adopted action plan, the State General Accounting Department is committed to the implementation of the accrual IPSAS/EPSAS based accounting reform while a need for further technical support has been identified.
A follow-up support has been provided since 2019, for the implementation of IPSAS/EPSAS based accrual accounting in Italy, including the design of a training in digital format and a one-day training session.
Membership of the EU requires regular reporting of government finance statistics for the proper functioning of the budgetary surveillance framework of the Union. Complete and reliable public accounting practices are a precondition of high-quality statistics that are comparable across Member States and that ensure well-timed fiscal monitoring. While work is under progress regarding harmonized European Public Sector Accounting Standards (EPSAS), Eurostat has provided an indicative timeframe until 2025.
In order to implement the Directive 2011/85/EU, which underlines the importance of the availability of complete and reliable financial statement data at European Union Level, the State General Accounting Department (IT Ministry of Economy and Finance), has established a Governance Structure for the preparation of a single accrual accounting system for the Italian public administrations, in line with the criteria and timing outlined by EUROSTAT.
Support for the implementation of the accrual IPSAS/EPSAS-based accounting in the Italian public administration – with Ragioneria Generale dello Stato.
Following the completion of the design of the accrual accounting reform in Italy, this project supported the Italian authorities in the following:
- drafting a conceptual framework proposal for accounting standards
- drafting a proposal for the accounting standards
- drafting a proposal for the manual for the accrual accounting implementation
- drafting a proposal on new accounting policies
- create a training in digital format and training material on accrual accounting and organise a training session
Review of the handbooks and manuals for the IPSAS/EPSAS implementation based on the performed analysis according to the action plan.
Draft of the Conceptual Framework including IPSAS/EPSAS implementation principles, as well as drafting a new set of accounting standards (Italian Accounting Standards – ITAS) based on IPSAS/EPSAS and accounting policies (processes and systems).
Analysis of the impact of the reforms on the organisation and in selecting legislation to enhance/change in order to ensure compliance with the new accounting framework based on IPSAS/EPSAS, as well as in creating an online training platform following a train-trainees programme.
More about the project
- Website of the State General Accounting Department of the Italian Ministry of Economy and Finance (Ragioneria Generale dello Stato - RGS)