The International Federation of Accountants (IFAC) and the Chartered Institute of Public Finance and Accountancy (CIPFA) have published an updated version of the international framework for good governance in the public sector.
The framework sets out seven governance principles for public sector bodies:
- Commitment to ethical values and respect for rule of law
- Openness and stakeholder engagement
- Setting economic sustainability-related delivery outcomes
- Determining necessary interventions
- Developing capacities and capabilities
- Manging risk, opportunities and performance through internal control
- Implementing good practices in reporting and audit
Each of the principles is accompanied by a set of questions to help entities assess governance practices and make improvements. The 2014 version of the framework has been updated to reflect developments, including progress in sustainability reporting.
CIPFA CEO Owen Mapley stated: “The 2026 Edition maintains the Framework’s clear focus on principles, but presents them in a more concise, practical, and action-oriented format. It provides governments and public sector leaders with an adaptable and accessible tool to support improvement and accountability.”