Accounting and Fiscal Reporting in EU Countries

IMF Working Papers, July 18, 2025

Source details

Explores the relationship between the uptake of accrual basis of accounting in government and the use of the resultant accrual information in fiscal statistics, using the European Union (EU) as a case study.
Examines the current state of accounting practices in the general government sector (GGS) of the 27 EU member states.
Uses data compiled by Eurostat to explore the extent to which accrual information is being used in the separate statistical reporting of EU member state public finances.
Draws out general observations of potential relevance to all countries undergoing accounting and fiscal reporting reforms.

Primary sources for assessing accounting practice:
- PwC/Eurostat survey of Accounting Maturities of EU Governments.
- International Federation of Accountants and the Chartered Institute of Public Finance and Accountancy (IFAC/CIPFA) International Public Sector Financial Accountability Index.
Statistical reporting and usage analysis based on Eurostat data.

The paper identifies and analyzes the relationship between:
- Uptake of accrual basis accounting in government; and
- Use of accrual information in fiscal statistics.
Coverage includes accounting practices across the 27 EU member states' general government sector (GGS).
The analysis highlights gaps and linkages between accounting reforms and statistical fiscal reporting, and extracts general observations relevant for reforms (specific observations and detailed results are contained in the Working Paper).

Subjects: Accrual accounting, Economic and financial statistics, Financial statements, Fiscal accounting and reporting, Government finance statistics, Labor, Pensions, Public financial management (PFM).
Keywords: accounting reforms, accrual accounting, EU countries, EU government, EU Member State balance sheets, EU member state public finances, EU member states, Europe, Financial statements, Fiscal accounting and reporting, fiscal reporting, fiscal statistics, Government finance statistics, Pensions, reconciliation.