Fiscal Transparency

Code of Good Practices



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FT Logo   International Standards Related to Fiscal Transparency
Useful Web Site Addresses

A number of technical standards or guidelines for data presentation and fiscal management procedures relevant to fiscal transparency are being developed by various international organizations. The Manual discusses their linkage to the Code. The appropriate standard should be consulted in implementing the related aspect of the Code. This provides a brief overview of these standards. Web site addresses, where available, are given in the text and included in the list of web site addresses below.

  • International accounting standards for the public sector are being developed by the Public Sector Committee (PSC) of the International Federation of Accountants (IFAC).
  • Data dissemination standards have been established by the IMF. The SDDS sets standards for providing economic and financial data to the public for member countries operating in international financial markets; the GDDS aims more generally to improve data quality among Fund member countries.
  • Fiscal reporting standards are included in the IMF's Manual of Government Finance Statistics (GFS), which is currently in the process of being revised and brought into line with other standards for economic and financial statistics and developments in government accounting.
  • Internal accounting control guidelines have been issued by the International Organization of Supreme Audit Institutions (INTOSAI). They define standards for achieving effective internal controls.
  • International standards for government auditing are set by INTOSAI to provide a basis for assuring reasonable standards of practice in the accounts of government and government agency accounts.
  • Fundamental principles of official statistics have been promulgated by the United Nations Statistical Commission to help assure the integrity of official statistics.

Standards or guidelines are also being developed in a number of other areas linked more indirectly to fiscal transparency, such as the work of Basle Committee on Banking Supervision, that of the Organization for Economic Cooperation and Development (OECD) on government regulation, and the United Nation's International Code of Conduct for Public Officials.

Useful Web Site Addresses

Budget Papers:

Basle Committee on Banking Supervision:

Tax Expenditures and Evaluations 2000:

Customs Cooperation Council: Declaration of the World Customs Organization:

European System of Accounts (ESA95)

European Union:
Procurement Directives:

Hong Kong:

Home Page of the Hungarian Government:

Code of Good Practices on Transparency in Monetary and Financial Policies—Declaration of Principles:
GFS Manual
Czech Republic:
Hong Kong, SAR:
Korea, Republic of:
Standards and Codes

Toward a Framework for Assessing Data Quality:
Government Financial Reporting:

Code of Ethics for Auditors in the Public Sector:
Guidelines on Best Practice for the Audit of Privatizations:
Lima Declaration of Guidelines on Auditing Precepts:

New Zealand:

OECD/PUMA: OECD Best Practices for Budget Transparency

South Africa:
Institute for Democracy in South Africa:

Taxpayer Advocate Service

United Nations:
Classification of the Functions of Government:
Commission on International Trade Law: Model Law on Procurement of Goods,
  Construction, and Services:
Common Code of Statistical Practice:
International Code of Conduct for Public Officials:
Statistical Division:

United States:
Budget of the United States:
Congressional Budget Office:
Federal Accounting Advisory Board:

World Trade Organization:
Government Procurement Agreement: