International framework for governance in the public sector - draft published

The International Federation of Accountants, working with the Chartered Institute of Public Finance and Accountancy, has published for consultation a draft international framework for governance in the public sector: see here (pdf). The framework provides that the function of good governance in the public sector is to ensure that entities act in the public interest at all times. The following definition of of governance is adopted: the arrangements put in place to ensure that the intended outcomes for stakeholders are defined and achieved.