4. Reporting only. General Purpose Financial Statements of Public Sector entities and controlled entities. Since 1997, IPSASB has issued 38 accrual standards, and a cash basis standard for countries moving toward full accrual accounting. Does not cover business enterprises all at national and levels Pass/ Fail Practices assessed by accountants and auditors in each country. Information on countries that have adopted IPSAS is at Decision by govt. on whether to adopt IPSAS. Published medium term work program of standards development. 5. Ten principles spanning planning, budgeting, execution, auditing, performance, risks, transparency, and public participation. 35 OECD member countries No OECD Public Governance Committee monitors implementation and is expected to report after three years. By OECD See also the 2002 OECD Best Practices on Budget Transparency.
Stage in budget and policy cycles Participation mechanisms Selected country examples Executive budget preparation Participatory National Planning Pre-budget consultations External expert review of macro and fiscal forecasts Independent expert setting of key macro assumptions Independent fiscal policy advisory body or council Participatory budgeting Brazil , , Korea Chile, Colombia Ireland Legislative consideration and enactment Budget Strategy Statement, with public submissions Main budget with public submissions Public submissions to legislature on money bills Parliamentary Budget Office Numerous Many countries Australia, , Italy, USA Budget implementation Independent administrative review bodies (tax, procurement) Multi-stakeholder monitoring of revenues Multi-stakeholder monitoring of public procurement CSO monitoring of procurement Community engagement in public investment projects Participatory/external expert program evaluations Numerous Nigeria , Philippines Legislative review Select Committee reviews with public submissions USA Supreme Audit oversight/social audit Citizen audit request body Participatory performance auditing Social audit Korea Major new fiscal policy proposals Consultation by executive on new revenue policies Consultation by executive on new expenditure policies Participatory public expenditure review Canada and others UK Public service delivery Complaints mechanisms Social audit Surveys of service users Citizen involvement in delivery Numerous Uganda Some OECD countries South Africa Public investment projects Consultation on social and environmental impacts Geo-tagging and social monitoring Independent public expert review of CBA, public hearings, citizen juries, review panels Numerous Philippines To date most attention has been paid to public participation with respect to the expenditure side of the budget. In 2017 GIFT prepared a note that provides a short overview of the field of public participation in the design and implementation of revenue policies, including international norms and specific country practices. Leading examples of public participation in tax policy are provided by the United Kingdom – which in 2010 committed in legislation to consult publicly on all tax changes, even minor ones, and at all stages of the tax policy process - and New Zealand. See . GIFT ran a competition in 2017 on Public Participation in Fiscal Policy and Budget Making. The three top prizes went to a participatory budgeting project in Portugal, a CSO campaign that changed government policy on the allocation of farm subsidies in Mexico, and an initiative by the Court of