4th FinCoP Workshop

June 03, 2019

Winterhur, Switzerland

Event Details

The PULSAR Financial Reporting Community of Practice (FinCoP) Working Group meeting was held from June 3-4, 2019 in Winterthur, Switzerland. Professor Dr. Reto Steiner, Dean and Managing Director of the ZHAW School of Management and Law, welcomed participants and opened the meeting. The meeting focused on sharing knowledge and experiences related to international practices for the development of Multidimensional (unified) Chart of Accounts (MCoA) for financial, budgeting, statistical, performance, and management reporting purposes. The MCoA was a priority topic identified by FINCOP participants. Mr. Andre Schwaller, Deputy Head Financial Statistics, Ministry of Finance, Switzerland; Mr. João Carlos Fonseca, Principal, IPSASB; Ms. Agnieszka Stachniak, Deputy Director, Accounting and Auditing Department, MoF, Poland; and Ms. Ingrida Muckute, Director of Reporting, Audit, Property Valuation and Insolvency Policy Department, MoF, Lithuania shared international good practices in this regard.  


During the meeting, participants worked to develop a good practice MCoA outline and learned about MCoA linkages with IFMIS and the latest developments related to European and International Public Sector Accounting Standards. Participants were informed about the background and purpose of the updated Bank’s REPF toolkit. Country experiences from Lithuania and Austria were also shared which outlined the typical challenges faced in the development of an MCoA and included possible solutions. Speakers from the ZHAW also presented the salient features of the Benchmarking Guide: Integrating Public Sector Accounting and Government Finance Statistics, a knowledge product they supported to develop for the PULSAR program. The Benchmarking Guide presents similarities and differences as well as challenges in implementing statistical reporting and general-purpose financial reporting. In addition, FinCoP participants agreed on the next steps in FinCoP.  


Eurostat: Approaches to Harmonised Chart of Accounts

A presentation by Lívia Shinn Straková, EPSAS Team, Eurostat - European Commission, on the Eurostat paper on National approaches to harmonised Chart of Accounts (CoA) including available accounting and reporting guidance and key considerations when setting up a CoA.

Introduction to the Swiss Chart of Accounts

A presentation by Andre Schwaller, Deputy Head of Financial Statistics, Swiss Federal Finance Administration, on the Swiss Confederation's structure of the Chart of Accounts and insights on the use for GFS reporting.

Multidimensional Chart of Accounts: The Portuguese Experience

A presentation by João Carlos Fonseca, former member of the Portuguese Accounting
Standards Board representing Statistics Portugal, on the reasons for reforming the public financial management system, the need for a new Public Accounts model and lessons learned.

Developing Standardized Chart of Accounts: The Polish Experience

A presentation by Agnieszka Stachniak, Deputy Director, Accounting and Auditing Department, Poland MoF, shared the Polish experience with public sector accounting reform and the aim to strengthen the public asset management system.

Chart of Accounts in the Public Sector of Lithuania

A presentation by Ingrida Muckute, Director of Reporting, Audit, Property Valuation and Insolvency Policy department, Lithuanian MoF, detailing the Lithuanian experience transition from modified cash basis accounting to full accrual accounting based on IPSAS.

Multidimensional Chart of Accounts (MCoA) Outline

A presentation by Arman Vatyan, PULSAR Program Manager, World Bank, introduced a detailed outline MCoA developed based on studies of of the chart of accounts of several ECA countries.The document serves as a good practice tool for development of local charter of accounts enabling reporting for financial, statistical, budgeting, performance, and management accounting purposes.

Updated REPF Tool

A presentation by Ranjan Ganguli, IPSAS Consultant, World Bank, on  the revised areas of the Report on the Enhancement of Public Sector Financial Reporting toolkit (REPF). The tool enables the systematic collection of information on a country’s public sector financial reporting framework.

Chart of Accounts and IFMIS

A presentation by Khuram Farooq, Sr. Financial Management Specialist, World Bank, on MCoA linkages with IFMIS and typical challenges in rolling out. 

EPSAS Updates

A presentation by Lívia Shinn Straková, EPSAS Team, Eurostat - European Commission, on the current activities undertaken by the EPSAS Working Group including updates to the EPSAS framework and follow up on Issues papers.

IPSASB Updates

A presentation by Andreas Bergmann, Director of ZHAW, on the progress in 2018 including 2 IPSAS approved and exposure drafts and consultation papers produced.