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The participants―accountants, economists, finance specialists, lawyers, statisticians, and representatives of academia, business, governments, international organizations, and think tanks—held varied views on how to resolve Greece’s debt crisis.
IFAC supports the argument that Greece must build trust and confidence with all stakeholders by making transparency and accountability its most urgent and important reform. Whether the issue is political, economic, or social—accounting matters, and starting with the right numbers is essential to assessing the economic and financial consequences of alternative solutions. Thus, a fresh start for Greece should begin with government financial information based on accrual-based IPSASs.
To support greater awareness of the need for higher quality government financial reporting, IFAC has convened the broad-based Accountability. Now. coalition. Coalition member organizations believe there is a better way forward for governments of all sizes and it starts with equipping governments with the foundation for good financial management: transparent, accountable financial information.