Accounting and auditing for local governments in the U.S. and the U.K.

Abstract

This paper offers a comparison of local government accounting and auditing in the U.S. and the U.K., including descriptions of the wider environment of the two governmental systems. The paper identifies two major differences in accounting. The first is that, in the U.S., the standard-setter makes requirements, whereas the U.K. policy-maker issues recommendations, which are sometimes not followed. The second is that, in the context of public reports outside the audited financial statements, the U.K. government has mandated the preparation and publication of performance measures by local governments.

Citation

Giroux, G., Jones, R. and Pendlebury, M. (2002), "Accounting and auditing for local governments in the U.S. and the U.K.", Journal of Public Budgeting, Accounting & Financial Management, Vol. 14 No. 1, pp. 1-26. https://doi.org/10.1108/JPBAFM-14-01-2002-B001