Public Reporting on State-Owned Enterprises : Managing the Relationship between SOE Aggregate Reporting and Public Sector Consolidated Financial Statements
State-owned enterprises (SOEs), entities that provide goods or services on a commercial basis and are controlled by the state, are major economic actors in most countries. SOEs typically deliver essential public services such as access to water, electricity, telecommunications, or transportation. Poorly performing SOEs can be a major drain on the public purse, often requiring state support to maintain operations and posing significant fiscal risks. However, in many partner countries, high-quality, reliable, and publicly available financial and operational information on the SOE portfolio (including enterprises in which the state holds a significant minority stake) is limited. As a result, there is an increasing need and demand for governments to strengthen monitoring of SOE performance and to improve transparency in reporting on the sector. The objective of this note is to examine two distinct but related practices for public reporting on SOEs, aggregate reporting and public sector consolidated financial statements, and suggest options for governments to manage the two processes efficiently.
| Main Author: | |
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| Format: | Guidance Note biblioteca |
| Language: | English en_US |
| Published: |
Washington, DC
2022
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| Subjects: | GOVERNANCE, STATE-OWNED ENTERPRISES, AGGREGATE REPORTS, PUBLIC SECTOR FINANCIAL STATEMENTS, SOE INTEGRATION, |
| Online Access: | http://documents.worldbank.org/curated/en/099618010192225944/IDU00922de190b5dc041fc096d50278ac1385cfa http://hdl.handle.net/10986/38180 |
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| Summary: | State-owned enterprises (SOEs),
entities that provide goods or services on a commercial
basis and are controlled by the state, are major economic
actors in most countries. SOEs typically deliver essential
public services such as access to water, electricity,
telecommunications, or transportation. Poorly performing
SOEs can be a major drain on the public purse, often
requiring state support to maintain operations and posing
significant fiscal risks. However, in many partner
countries, high-quality, reliable, and publicly available
financial and operational information on the SOE portfolio
(including enterprises in which the state holds a
significant minority stake) is limited. As a result, there
is an increasing need and demand for governments to
strengthen monitoring of SOE performance and to improve
transparency in reporting on the sector. The objective of
this note is to examine two distinct but related practices
for public reporting on SOEs, aggregate reporting and public
sector consolidated financial statements, and suggest
options for governments to manage the two processes efficiently. |
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