Meeting on the Task Force on Harmonization of Public Sector Accounting

Fourth Meeting
Monday, October 3-6, 2005
International Monetary Fund
Washington, DC
Room 2-530, Main building of IMF

The international Task Force on Harmonization of Public Sector Accounting (TFHPSA) works at enhancing the harmonization between statistical guidelines and accounting standards, and at updating statistical guidelines for the public sector. The TFHPSA was created in 2003 and is the first formal initiative at the international level that attempts to harmonize statistical guidelines and accounting. It is also recognized as the forum to provide guidance in the area of public sector statistics for the forthcoming update of the System of National Accounts 1993 (1993 SNA).

The Task Force, which is chaired by the IMF, operates on the basis of two working groups (WGs). WGI focuses on harmonization of statistical and accounting standards and is chaired by the International Federation of Accountants-Public Sector Accounting Standards Board (IFAC-IPSASB); and WGII focuses on inputs to the update of the 1993 SNA and is chaired by the OECD, that also acts as secretariat. The task force membership includes national statisticians and public sector accountants, and international agencies (European Central Bank, Eurostat, International Monetary Fund, IFAC-IPSASB, OECD, and World Bank).

The October 3-6, 2005 meeting of the Task Force is being sponsored by the Statistics Department of the IMF. It is the fourth meeting of the Task Force, following that held in March 2005 at the OECD in Paris. The intent of the meeting is first to take stock of the presentation to the July 2005 Advisory Expert Group of the System of National Accounts (SNA) with the work program since the last meeting. To this end, it will first review the work of WGI. Then it will review the work done by three of the five teams of WGII and then review the work of the two other teams for the update of the 1993 SNA. Finally, it will also review the new Chapter on Government and Public Sectors to be included in the updated version of the 1993 SNA. The agenda of the meeting is available below.

The discussions and decisions reached during the meeting will be communicated to the 2006 Advisory Expert Group in charge of the update of the 1993 SNA, as well as the IFAC-IPSASB.

To become member of the TFHPSA and have access to all the documentation, please contact Jean-Pierre.Dupuis@oecd.org.

Participation in the October 2005 meetings is by invitation only. For further information, please contact Mr. Keith Dublin, Chief of the Government Finance Division, Statistics Department, IMF at kdublin@imf.org.

The subsequent meeting of the TFHPSA will be held in Paris in early 2006.

The section of the website relating to this Task Force on Harmonization of Public Sector Accounting conference contains papers and web links to papers that will be considered at the conference. The views expressed in these papers are those of the authors only, and the presence of them, or of links to them, on the IMF website does not imply that the IMF, its Executive Board, or its management endorses or shares the views expressed in the papers.

Date and time Topic Documents Discussion Leader
Working Group I (WG I) October 3, 2005
Monday, October 3
9:15 a.m. Coffee
9:30 a.m. Opening Remarks: Welcome   Richard Hemming
Senior Advisor
Fiscal Affairs Department
9:50 a.m. Update since the
March 2005 TFHPSA meeting
Minutes of the March 2005 Meeting Lucie Laliberté
10:15 a.m. Coffee Break    
10:45 a.m. Working Group I Update on IPSAB work program
IPSASB Update 2
Paul Sutcliffe
    IPSASB ED Non Exchange Revenue  
    IPSASB ED/Update social policies of government  
    IPSASB ED-GGS
(Page 12.6 onwards)
 
    Draft Accounting Standard for the GGS Brett Kaufmann
12:30 p.m. Lunch    
1:30 p.m. WG I (continued) Ongoing role
of WG I
Arrangements for liaison between statistical community and IPSASB

Responding to IPSASB and IASB exposure drafts
Lucie Laliberté
Working Group II (WG II) October 3—6, 2005
2:30 p.m. Earnings from equity investment
(working team B)
Accrual of Earnings on Equity Stakes of General Government in Public Corporations: A Proposal for an Updated SNA Lucie Laliberté
Brooks Robinson/
D. Timothy Dobbs
3:30 p.m. Coffee break    
4:00 p.m. Earnings from equity investment (continued)    
5:00 p.m. Summary of discussions   Paul Sutcliffe/
Jean-Pierre Dupuis
Tuesday, October 4
9:00 a.m. Coffee   Lucie Laliberté
9:15 a.m. Special Purpose Vehicles
(working team E)
Special Purpose Entities in the Public Sector Sagé De Clerck
10:45 a.m. Coffee break    
11:00 a.m. Debt
(working team E)
Recording Government Liabilities  Richard Shepherd
12:30 p.m. Lunch    
1:30 p.m. Debt Restructuring Debt Reorganization  
3:30 p.m. Coffee break    
4:00 p.m. Debt Restructuring
(Continued)
   
5:00 p.m. Summary of discussions   Jean-Pierre Dupuis
Wednesday, October 5
9:00 a.m. Coffee   Lucie Laliberté
9:15 a.m. Privatisation/Nationalisation (working team E) Privatisation and Nationalisation Jean-Pierre Dupuis
10:45 a.m. Coffee break    
11:00 a.m. Privatization/Nationalization
(continued)
   
12:30 p.m. Lunch    
1:30 p.m. The July 2005 AEG meeting
  Lucie Laliberté/
Jean-Pierre Dupuis
  Tax Tax Revenues, Uncollectible Taxes, and Tax Credits

Property Income or Tax? The Case of Royalties Paid for Mineral Exploration
 
  Delineation Government/Public Sector/Private Sector Delineation Issues  
3:30 p.m. Coffee Break    
4:00 p.m. The July 2005 AEG meeting (continued)
   
  Guarantees Granting of guarantees in an updated SNA  
  Reinvested Earnings Super-dividend, Capital Injections and Reinvested Earnings  
5:00 p.m. Summary of discussions   Jean-Pierre Dupuis
Thursday, October 6
9:15 a.m. Coffee    
9:30 a.m. The July 2005 AEG meeting (continued)    
  Government SPVs abroad    
  Chapter/Annex General Government and Public Sectors: Chapter and Annex Outline  
10:45 a.m. Coffee Break    
11:00 a.m. Chapter on Government and Public Sectors The General Government and Public Sectors John Pitzer
1:00 p.m. Lunch    
2:30 p.m. Chapter on Government and
Public Sectors (continued)
   
3:30 p.m. Summary of discussions   Jean-Pierre Dupuis/ Lucie Laliberté
4:00 p.m. Coffee Break    
4:30 p.m. Closing   Lucie Laliberté