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Deloitte member firm comment letter on Eurostat IPSAS consultation

Published on: May 22, 2012

In our opinion, International Public Sector Accounting Standards (IPSAS) are suitable for implementation in the European Union (EU) Member States.  We consider IPSAS to be high-quality accounting standards for governments, which in many respects, as amended to reflect specific public sector requirements, follow IFRS which provided consistency to international reporting in the private sector.  Their adoption by all EU Member States would lead to improved consistency and comparability of financial statements as a result of the extensive requirements and guidance provided in IPSAS.

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