The Consolidated Financial Statement: Are Ipsas And National Accounting Standards Comparable? The Turin City Council Case.
Luigi Puddu, Christian Rainero, Silvana Secinaro, Alessandra Indelicato, Maria Chiara Vietti

Abstract
The research is to examine the accounting process for the consolidated financial statement of public sector with the comparison of Ipsas and the National Accounting System to discover their comparability. The Italian consolidated financial statement is regulated by the Annex 4 of the Prime Ministerial Decree 28/12/2011; Accounting Standard 4 – public accounting observatory which only gives some regulatory indications and is not regulated by law; International Accounting Standards, Ipsas 6,7, and 8, were not transposed in the Italian legal order: this is also demonstrated by the fact that not always Ipsas orientation corresponds to the Italian Accounting Standard orientation. Are they comparable? To answer the question this paper focuses on the determination of the consolidation area, as can be seen the criteria decided by national accounting standard are different from Ipsas one.

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