The International Federation of Accountants has published a paper calling for enhanced financial management transparency and accountability in the public sector, especially in the midst of the sovereign debt crisis.

The policy position paper, “Public Sector Financial Management Transparency and Accountability: The Use of International Public Sector Accounting Standards,” explains IFAC’s view that governments around the world need to provide clear and comprehensive information regarding the financial consequences of their economic, political, and social decisions, in order to protect the public as well as investors in government bonds.

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