Go figure: why public accounting doesn't add up on social value

Jeremy Nicholls

Accounting in the public sector should be all about serving the public interest, right? But what if the current system overlooks people’s wellbeing to focus only on financials – and what if public sector accounts are ‘materially misstated’? Our columnist gets anxious as he submerges himself in the alphabet soup of global public sector accounting standards – and proposes a simple addition to bring social value back to the surface.

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