Through the looking glass : an accountant's perspective on public sector accounting in Malta : exploring the features of public sector accounting in the Maltese context

Abstract

This monograph explores the nature, features, and evolving regulatory framework of public sector accounting within the Maltese context. Written from an experienced accountant's perspective, the book examines the distinct operational, legal, and structural differences between commercial and government accounting, highlighting how political, social, and accountability objectives shape public financial reporting. It provides an in-depth analysis of the underlying national legislation, the public sector audit function (including the roles of the Internal Audit and Investigations Directorate and the National Audit Office), the format of the annual government financial report, and the national budget cycle. Furthermore, the book addresses key contemporary developments such as reporting to the European Union under the European System of Accounts (ESA 2010), government accounting reform transitions from cash-based to accrual-based systems, and the implementation of International Public Sector Accounting Standards (IPSAS) and International Financial Reporting Standards (IFRS) across central and local government entities.