Annex 2: Key Characteristics of Public Sector Entities1
Characteristic | Description |
Public accountability | Governments are elected through a democratic process to be granted constitutional or devolved rights, powers, and responsibilities. These responsibilities require broad accountability to the public and their elected representatives. Government and their institutions use public resources and may have been given delegated powers and responsibilities that also demand broad accountability to the public. Public accountability is an overriding feature of public sector entities and ensuring the availability of information to demonstrate such accountability is the primary objective of public sector reporting. Public accountability typically encompasses:
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Multiple objectives | The key aims of most public sector entities are not to generate a profit. Instead they are to:
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Rights and responsibilities | The rights and responsibilities of governments provide them with the ability to directly and indirectly affect the economy and society they operate in. The rights and responsibilities may vary by level of government. Governments can, for example:
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