The Road to 2030: Zimbabwe, IPSAS Adoption, and the Global Accrual Momentum
By Richard Ndebele
Governments across the globe are steadily moving away from cash-based accounting systems towards accrual-based reporting, a development that promises to transform public financial management.
The recently released International Public Sector Financial Accountability Index 2025 Status Report by the International Federation of Accountants (IFAC) and the Chartered Institute of Public Finance and Accountancy (CIPFA), with support from the International Public Sector Accounting Standards Board (IPSASB), highlights this momentum and its far-reaching implications.
By 2030, the report projects that 56 percent of jurisdictions will report on an accrual basis.
More importantly, the global landscape is shifting: while high-income countries made up the majority of accrual adopters in 2024, by 2030 as much as 60 percent will come from middle- and low-income economies. This signals that accrual reporting is no longer the preserve of advanced nations but a universal benchmark for transparency and accountability.
Furthermore, 81 percent of those adopting accrual are expected to apply International Public Sector Accounting Standards (IPSAS) either directly, with modifications, or as the foundation for national standards.
Accrual accounting matters because it records the substance of transactions as they occur, not merely when cash changes hands.
For governments, this provides a far clearer picture of their financial position — assets, liabilities, revenues, and obligations. This level of transparency strengthens fiscal discipline, improves resource allocation, reassures creditors and investors, and builds citizen trust. It also enhances comparability across countries, enabling a better assessment of how effectively resources are being used.
For Zimbabwe, this global momentum resonates with its own reform agenda. The country has already committed to transition from cash-basis IPSAS to full accrual IPSAS by 2026.
This is not just a technical milestone; it is a critical step toward realising Vision 2030 and the National Development Strategy. Accrual adoption will enhance credibility with investors and development partners, improve oversight by Parliament and the Auditor-General, and enable citizens to hold government accountable for the stewardship of public resources.
Yet, this journey demands significant investment in skills and systems. Accountants, auditors, and governance professionals will be at the heart of this transformation, ensuring that accrual reporting is not only adopted but embedded in practice.
The Chartered Governance and Accountancy Institute in Zimbabwe (CGI Zimbabwe) is already playing a central role through training programmes such as the Accelerated Public Sector Accounting qualification, the African Professionalisation Initiative, and a modernised curriculum that incorporates IPSAS and public sector governance.
The road to 2030 will not be without challenges. Systems must be upgraded, training gaps closed, and a culture of accountability reinforced. But the opportunities far outweigh the hurdles. Accrual-based reporting can strengthen fiscal sustainability, reduce leakages, and restore confidence in public institutions.
Zimbabwe’s adoption of accrual IPSAS is therefore more than a compliance exercise. It is a commitment to transparency, accountability, and sustainable financial management.
As the IFAC report makes clear, this global movement is reshaping how governments report, and Zimbabwe is firmly part of this journey. The task ahead is to ensure that the transition is not only achieved on paper but delivers the real benefits that citizens, investors, and the broader economy so urgently need.
Richard Ndebele is Manager: Technical, Research & Quality Assurance at CGI Zimbabwe and Country Champion for the PAFA Sustainability Centre of Excellence. He writes on governance, sustainability, and public financial management in Africa. Contact: rndebele@cgizim.org
