TY - JOUR
T1 - New development: Ten years of consolidated accounts in the United Kingdom public sector—taking stock
AU - Stewart, Elaine
AU - Connolly, Ciaran
PY - 2022/2/3
Y1 - 2022/2/3
N2 - November 2021 marked 10 years since the publication of the first UK Whole of Government Accounts (WGA), representing the first set of audited financial statements prepared in accordance with international accounting standards for the UK public sector. With governments around the world investing substantial resources into modernizing their financial reporting practices and systems, it is important to consider whether these changes will deliver value for money and will result in tangible benefits. As calls for further research into what public sector accounting reforms bring practical benefits, this new development article considers the usefulness of WGA, outlining what WGA makes visible, its limitations and the challenges that lie ahead.
AB - November 2021 marked 10 years since the publication of the first UK Whole of Government Accounts (WGA), representing the first set of audited financial statements prepared in accordance with international accounting standards for the UK public sector. With governments around the world investing substantial resources into modernizing their financial reporting practices and systems, it is important to consider whether these changes will deliver value for money and will result in tangible benefits. As calls for further research into what public sector accounting reforms bring practical benefits, this new development article considers the usefulness of WGA, outlining what WGA makes visible, its limitations and the challenges that lie ahead.
U2 - 10.1080/09540962.2022.2031647
DO - 10.1080/09540962.2022.2031647
M3 - Article
SN - 0954-0962
JO - Public Money and Management
JF - Public Money and Management
ER -