Public Sector Financial Accounting Framework approved

http://www.accountingtoday.com/news/accounting-news/public-sector-financial-reporting-framework-approved-72037-1.html IPSAS expects this to be released by end of October 2014. The final four chapters have been completed of this initiative.

Group of 20 leading nations

highlight the importance of comparability and transparent public sector financial reporting in Russia at meeting of central bank governors and finance ministers.    Emphasized the importance of country specific circumstance and impact of financial sector vulnerability on public debt.  http://www.publicfinanceinternational.org/news/2013/03/accounting-bodies-hail-g20-emphasis-on-public-sector-reporting/