Government Financial Reporting in Times of the COVID-19 Pandemic

The economic shock of the coronavirus outbreak has an unprecedented impact on public finances. Governments are implementing massive fiscal packages including both budgetary and nonbudgetary measures to fight the pandemic while receipts are sharply...

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Main Author:	World Bank
Format:	Report
Language:	English
Published:	World Bank, Washington, DC 2020
Subjects:	FINANCIAL MANAGEMENT INFORMATION SYSTEM INTERNATIONAL ACCOUNTING STANDARD PUBLIC FINANCIAL MANAGEMENT ACCOUNTABILITY INTERNATIONAL FINANCIAL REPORTING STANDARDS FISCAL SUSTAINABILITY PUBLIC EXPENDITURE PUBLIC AND PUBLICLY GUARANTEED DEBT PUBLIC DEBT TAX REVENUE CORONAVIRUS COVID-19 PANDEMIC RESPONSE GOVERNANCE GOVERNMENT FINANCIAL STATEMENTS PANDEMIC IMPACT PENSION LIABILITY PUBLIC INVESTMENT MANAGEMENT
Online Access:	http://documents.worldbank.org/curated/en/869021604917113763/Government-Financial-Reporting-in-Times-of-the-COVID-19-Pandemic http://hdl.handle.net/10986/34792

id	okr-10986-34792
recordtype	oai_dc
spelling	okr-10986-347922021-06-14T09:52:51Z Government Financial Reporting in Times of the COVID-19 Pandemic World Bank FINANCIAL MANAGEMENT INFORMATION SYSTEM INTERNATIONAL ACCOUNTING STANDARD PUBLIC FINANCIAL MANAGEMENT ACCOUNTABILITY INTERNATIONAL FINANCIAL REPORTING STANDARDS FISCAL SUSTAINABILITY PUBLIC EXPENDITURE PUBLIC AND PUBLICLY GUARANTEED DEBT PUBLIC DEBT TAX REVENUE CORONAVIRUS COVID-19 PANDEMIC RESPONSE GOVERNANCE GOVERNMENT FINANCIAL STATEMENTS PANDEMIC IMPACT PENSION LIABILITY PUBLIC INVESTMENT MANAGEMENT The economic shock of the coronavirus outbreak has an unprecedented impact on public finances. Governments are implementing massive fiscal packages including both budgetary and nonbudgetary measures to fight the pandemic while receipts are sharply down. Communicating the financial consequences of Coronavirus (COVID-19) to all stakeholders in a timely manner is important to create enduring broad support. Audited financial statements play a key role in building citizen trust in government. This policy note provides reflections on how governments could make use of existing systems of financial reporting during the pandemic as well as opportunities for improved financial reporting systems for the post-crisis environment. It also seeks to share insights into the impact of the pandemic on government financial performance, position, and cash flows. 2020-11-18T15:38:04Z 2020-11-18T15:38:04Z 2020-10-31 Report http://documents.worldbank.org/curated/en/869021604917113763/Government-Financial-Reporting-in-Times-of-the-COVID-19-Pandemic http://hdl.handle.net/10986/34792 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Other Financial Accountability Study Canada India New Zealand South Africa United Kingdom
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	FINANCIAL MANAGEMENT INFORMATION SYSTEM INTERNATIONAL ACCOUNTING STANDARD PUBLIC FINANCIAL MANAGEMENT ACCOUNTABILITY INTERNATIONAL FINANCIAL REPORTING STANDARDS FISCAL SUSTAINABILITY PUBLIC EXPENDITURE PUBLIC AND PUBLICLY GUARANTEED DEBT PUBLIC DEBT TAX REVENUE CORONAVIRUS COVID-19 PANDEMIC RESPONSE GOVERNANCE GOVERNMENT FINANCIAL STATEMENTS PANDEMIC IMPACT PENSION LIABILITY PUBLIC INVESTMENT MANAGEMENT
spellingShingle	FINANCIAL MANAGEMENT INFORMATION SYSTEM INTERNATIONAL ACCOUNTING STANDARD PUBLIC FINANCIAL MANAGEMENT ACCOUNTABILITY INTERNATIONAL FINANCIAL REPORTING STANDARDS FISCAL SUSTAINABILITY PUBLIC EXPENDITURE PUBLIC AND PUBLICLY GUARANTEED DEBT PUBLIC DEBT TAX REVENUE CORONAVIRUS COVID-19 PANDEMIC RESPONSE GOVERNANCE GOVERNMENT FINANCIAL STATEMENTS PANDEMIC IMPACT PENSION LIABILITY PUBLIC INVESTMENT MANAGEMENT World Bank Government Financial Reporting in Times of the COVID-19 Pandemic
geographic_facet	Canada India New Zealand South Africa United Kingdom
description	The economic shock of the coronavirus outbreak has an unprecedented impact on public finances. Governments are implementing massive fiscal packages including both budgetary and nonbudgetary measures to fight the pandemic while receipts are sharply down. Communicating the financial consequences of Coronavirus (COVID-19) to all stakeholders in a timely manner is important to create enduring broad support. Audited financial statements play a key role in building citizen trust in government. This policy note provides reflections on how governments could make use of existing systems of financial reporting during the pandemic as well as opportunities for improved financial reporting systems for the post-crisis environment. It also seeks to share insights into the impact of the pandemic on government financial performance, position, and cash flows.
format	Report
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Government Financial Reporting in Times of the COVID-19 Pandemic
title_short	Government Financial Reporting in Times of the COVID-19 Pandemic
title_full	Government Financial Reporting in Times of the COVID-19 Pandemic
title_fullStr	Government Financial Reporting in Times of the COVID-19 Pandemic
title_full_unstemmed	Government Financial Reporting in Times of the COVID-19 Pandemic
title_sort	government financial reporting in times of the covid-19 pandemic
publisher	World Bank, Washington, DC
publishDate	2020
url	http://documents.worldbank.org/curated/en/869021604917113763/Government-Financial-Reporting-in-Times-of-the-COVID-19-Pandemic http://hdl.handle.net/10986/34792
_version_	1764481665267138560

Government Financial Reporting in Times of the COVID-19 Pandemic

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