Business Wire

Italian Local, Regional Governments Need New Accounting Standards – New Study

Del

Italian local and regional Governments must adopt EU Public Sector Accounting Standards to harmonise with the rest of Europe and reduce manipulation, a new study has found.

The research, by Professor Francesco Capalbo from University of Molise, Professor Alex Frino from University of Wollongong in Australia and Giovanni Gerardo Parente from CNDCEC will be presented at Parliament House in Rome on October 12. It sets out the case for Italian governments to adopt harmonised European accounting standards despite the high cost of making the change.

The research builds on previous work by Professors Frino and Capalbo that examines the accounting practices of Italian state-owned enterprises.

“Since the Greek economic collapse European governments have been under pressure to harmonise their accounting practices to allow comparisons of the financial accounts of member states,” Professor Frino said. “That involves all levels of government including local governments (municipalities) in each country, because their financial statements are consolidated into the national accounts.”

In Italy, local and regional governments do not use typical (accrual) accounting practice to generate financial statements, but a cash basis of accounting. Professors Frino and Capalbo’s research is considered important in determining how Italy should work with the European Union’s efforts to establish harmonisation of public sector accounting standards.

“We conducted a survey of 1,300 public sector auditors including Commercialisti (certified accountants) in Italy and asked them whether a move to full accrual accounting, as promulgated by the EU would improve the quality of financial statements – the results came back with a resounding yes,” said Professor Frino.

The presentation of the research will be hosted by L’onorevole Francesco Boccia, Presidente della Commisione Bilancio (the Honourable Francesco Boccia, Chair of the Finance and Budget Committee) at the Palazzo Montecitorio or Parliament House in Italy which will be attended by members of parliament representing all the major parties including Enrico Morando, Viceministro dell’Economica e delle Finance (the Deputy Treasurer). The meeting will also be attended by the head of the IPSASB Ian Carruthers and the head of the European Union’s taskforce into standardising accounting practices, Alexandre Makaronidis.

Contact information

For more information and interviews with Professor Frino:
The Continuum Partners
Kristin Westlake, +1 (604) 966-1410
kwestlake@thecontinuumparters.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Moody’s and Reis Announce Successful Completion of Cash Tender Offer for Shares of Reis15.10.2018 10:00Pressemelding

Moody’s Corporation (NYSE:MCO) and Reis, Inc. (NASDAQ:REIS) announce today that Moody’s wholly-owned subsidiary, Moody’s Analytics Maryland Corp., successfully completed the previously announced tender offer to purchase all of the issued and outstanding shares of common stock of Reis at a purchase price of $23.00 per share, net to the seller in cash, without interest and less any applicable withholding taxes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181015005308/en/ The tender offer expired at 11:59 p.m., New York City time, on October 12, 2018. The depositary for the tender offer has advised that as of the expiration of the tender offer, a total of 9,800,276 shares of common stock of Reis were validly tendered and not validly withdrawn in the tender offer (excluding shares with respect to which notices of guaranteed delivery were delivered) representing approximately 84.7% of Reis’s outstanding shares of common stock.

Bentley Advances Industrialization of Infrastructure Project Delivery Through ProjectWise Integration with Microsoft 36515.10.2018 09:16Pressemelding

The Year in Infrastructure 2018 Conference - Bentley Systems, Incorporated announced the general availability of integration between ProjectWise 365 Services and Microsoft 365. The collaboration capabilities of Microsoft Teams and Microsoft Flow, alongside analytics from Microsoft SharePoint and Microsoft Power BI, can now be applied to mainstream automated digital workflows within ProjectWise. The integration will enable collaborative digital workflows that transcend system boundaries throughout infrastructure capital project delivery, ensuring standards and best practices are propagated across projects, and increasing repeatability, scalability, quality, and predictability—in effect, industrializing project delivery, so that project teams can widely replicate their best projects’ successes. Neil Lee, IT Director - Applications, Mott MacDonald, said, “The integration of ProjectWise and Microsoft Office 365 will be a significant enabler for our ongoing digital strategy for project deli

Siemens and Bentley Systems Announce Integrated Asset Performance Management (APM) Solution for Power Plants15.10.2018 09:12Pressemelding

The Year in Infrastructure 2018 Conference – Siemens and Bentley Systems have announced a joint technology and service solution, consisting of their complementary offerings, to speed up the digitalization of power plants and provide intelligent analytics with a range of innovative offerings and managed services solutions. The new service, to be hosted on Siemens’ cloud-based open IoT operating system, MindSphere, will combine Bentley’s advanced asset performance software capabilities with Siemens’ complementary technology and service expertise to empower power plant owners to take full advantage of digitalization, which helps improve maintenance operations and planning. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181015005249/en/ APM for Power Plants combines Bentley's advanced asset performance software capabilities with Siemens' industry and domain expertise. (Photo: Business Wire) Siemens’ asset performance management

Bentley Systems Acquires LEGION, Leading Pedestrian Simulation Software15.10.2018 09:09Pressemelding

The Year in Infrastructure 2018 Conference–– Bentley Systems, Incorporated, the leading global provider of comprehensive software solutions for advancing the design, construction, and operations of infrastructure, today announced the acquisition of leading pedestrian simulation software provider LEGION, based in London and supporting more than half of the world’s 40 largest transit agencies. The acquisition augments Bentley’s comprehensive modeling environment with collaborative digital workflows to explore and validate comparative simulations of pedestrian traffic scenarios. LEGION’s pedestrian simulation application offers modeling capabilities of people’s interactions with each other and physical obstacles, and activities, including circulation and evacuations, within public spaces like railway stations, airports, sports arenas, tall buildings, and street level with vehicle interactions. Using LEGION simulation tools in collaborative digital workflows with Bentley’s OpenBuildings De

Bentley Acquires Agency9 to Realize Digital Twins for Every City15.10.2018 09:07Pressemelding

The Year in Infrastructure 2018 Conference–– Bentley Systems Incorporated, the leading global provider of comprehensive software solutions for advancing the design, construction, and operations of infrastructure, today announced the acquisition of Agency9, based in Stockholm. Agency9 has already provided nearly half of Sweden’s larger municipalities with city-scale digital twin cloud services for city planning and related web-based 3D visualization. Since 2012, Agency9 has taken advantage of reality meshes created by Bentley’s ContextCapture reality modeling software as the digital context for visualizing urban infrastructure assets represented in GIS data, terrain surveys, and BIM models. Bentley’s new iTwin™ cloud services, introduced at the conference, add digital alignment and change synchronization for infrastructure engineering digital twins, and will enable OpenCities Planner (formerly Agency9 CityPlanner) to uniquely serve urban planning requirements at fuller levels of detail.

Atos and Bentley Systems Announce Strategic Partnership to Create Digital Twins for Owner-operators of Industrial and Infrastructure Assets15.10.2018 09:04Pressemelding

The Year in Infrastructure 2018 Conference – Atos, a global leader in digital transformation, and Bentley Systems, the leading global provider of comprehensive software solutions for advancing the design, construction, and operations of infrastructure, today announced a strategic partnership through which they will offer a complete solution to create and operate digital twins on behalf of industry and infrastructure asset owners. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181015005255/en/ Atos’ global experience and expertise in digital transformation together with Bentley’s infrastructure, engineering, reality modeling and asset performance software portfolio will enable businesses to take advantage of fully-integrated and managed digital twins as a cloud-based service. This new offering will support owner-operators meet their business KPIs through the following features and benefits: Full immersive visibility of assets