Accrual Reform

The PNRR Reform 1.15 introduces for public administrations a new system of accrual-based accounting grounded in the Accrual principle. The objective is to align public accounting with international and European standards (IPSAS/EPSAS) and to provide a more comprehensive and transparent view of the entity’s management, no longer limited to financial flows alone.

Within this framework, the legislator is clear: the asset inventory assessment is the first step. Without an updated, reliable, and consistent inventory, Accrual cannot function. The inventory thus becomes the foundation on which accrual-based accounting is built.

Why the inventory is not just a list

In the Accrual framework, the inventory becomes a management and value tool: it goes beyond the logic of a static list and represents the real economic value of the entity. It is not only about formal ownership, but also about the control of the asset and its usefulness over time, including assets under concession, leasing, or long-term use. Proper classification according to ITAS principles, together with reliable valuations and the calculation of depreciation, enables more transparent, comparable financial statements that better support the entity’s decision-making.

The transition to Accrual is not just an accounting change.

It means restoring order, creating clarity, and building solid foundations.
GIES supports public authorities throughout this process, working alongside internal departments. From inventory review to asset census, from Accrual reclassification to economic valuation, through to reconciliation with the Balance Sheet and ongoing updates over time.
Concrete operational support, built on method, experience, and reliable tools.
A shared effort, step by step with the authority, to make Accrual applicable and sustainable.

A look ahead

The Accrual is not a reform that ends with a regulatory deadline. It is a gradual process, destined to evolve over time, requiring public authorities to develop adaptability, continuous updating, and a medium- to long-term vision. The quality of economic and asset-related information becomes increasingly central to managing public assets, planning investments, and measuring the impact of administrative decisions. Preparing today means building solid foundations to face the next phases of the reform with greater awareness.

An evolving reform

  • Gradual implementation and ongoing support: Accrual develops in phases and requires continuity over time.
  • The assets are not static: data, values, and classifications must remain consistent and up to date.
  • Integration between systems and skills: processes, people, and tools must work together.
  • More informed decisions: reliable information supports planning and control.

GIES supports public authorities throughout this evolutionary journey, with operational and methodological support designed to guide change over time, transforming compliance requirements into tools for managing public assets.