The CNOCP published its Annual Report 2016
The key event in 2016 is the publication of the first part of the Conceptual Framework for Public Accounts, which defines the concepts underlying public sector accounting standards.
France is the only country to have introduced such a framework that constitutes a reference and provides guidelines for the future projects of the Public Sector Accounting Standards Council. Hopefully, it will also become a reference for partners engaged in developing accounting standards for the public sector, both at national level (European countries) and on the international scene.
The CNOCP’s upcoming agenda will deal with the aggregation of public accounts and measurement issues related to accrual accounts, including in particular a clarification of the scope of the financial statements as compared to other forms of financial reporting.
2016 was also marked by the Social Security Sector project.
In 2016, an Opinion was issued on the accounting treatment for social security sector pensions, i.e. other than those related to employer / employee relationships. This Opinion is based on the principles set out in the Conceptual Framework for Public Accounts and clarifies the respective roles of sovereign power and of the entities that manage the schemes. This Opinion is the initial phase of a project in which the Public Sector Accounting Standards Council engaged at the end of 2016 with a view to developing a future Accounting Standards Manual for Social Security Organisations.
After developing the Central Government and Public Establishments Manuals, the Council is now committed to producing two Manuals for Social Security Organisations and the local public sector respectively.