DS Epsas > Overview EN REVAMP

Aim of EPSAS

European public sector accounting standards, abbreviated as EPSAS, aim to increase the transparency and comparability of public sector financial accounting and reporting between and within EU countries. This will be done by developing and implementing a harmonised European accounting framework.

Transparent and comparable public accounting will inform governance, policy and decision-making, and the management of public finances.

Information on income, expenses, assets, and liabilities are important for accountability and informed decision-making. In contrast to the private sector, no common accounting standards for financial reporting for the public sector in the EU are in place.

Role of Eurostat

Eurostat chairs the EPSAS Expert group, which is an EU network of public sector accounting standard-setters. It is made up of experts representing all levels of government (federal, regional, local) as well as other key EU and global stakeholders (IPSAS Board, Organisation for Economic Co-operation and Development, European Central Bank, AccountancyEurope, World Bank, International Monetary Fund).

Eurostat also provides technical support on EPSAS related technical accounting issues and, in some cases, co-financing to EU countries’ government accounting reforms. It also closely cooperates with the relevant Commission service (DG REFORM) to support such reforms.

Eurostat is engaged in communication about EPSAS with policymakers, governments, auditors, accounting experts, academia, and other key stakeholders.

EPSAS Work proceedings

The work of EPSAS proceeds in 2 phases:

  • short-to-medium term: increasing fiscal transparency in the EU countries by encouraging and supporting accruals reforms, and developing the EPSAS framework; 
  • medium to long term: addressing comparability within and between EU members. 

Contact

If you have questions, please send a message to our EPSAS team.