Whole of Government Accounting in the UK
ACCA research report 101 is published
26 Sep 2008
Whole of Government Accounting in the UK by Danny Chow, Christopher Humphrey and Jodie Moll has been published as ACCA research report number 101.
The report, which comes 10 years after a government study first advocated Whole of Government Accounting (WGA) - a consolidated set of public sector accruals-based accounts - offers a timely insight into the concept. It gives evidence of improvements in public sector accounting systems, with the consolidation process required by WGA providing a catalyst to stimulate change in the way financial data is collected and recorded.
However, the report remarks that the impact this has had in terms of improved governmental decision-making remains an open question, the answer to which depends upon the long-term operation of WGA systems.
Despite the current restrictions in assessing the practical outcomes of the concept, the report concludes that WGA has instilled a discipline of accounting across the public sector, rather than its supposed role of improving macroeconomic management and governmental accountability processes.