Quality Measures for Systems of Economic Accounts

Australian Bureau of Statistics This paper represents work in progress and does not necessarily reflect the final approach which the ABS will adopt. Executive Summary This paper reports work in progress on a project called Quality Measures for Systems of Economic Accounts (QMSEA). The distinctive features of QMSEA are that it-Is designed to review whether present and future systems of economic 1. accounts (SEAs) are likely to be "fit for purpose". Looks beyond sample survey data to the full range of input data used to 2. compile SEAs. Will concord with the IMF Data Quality Assessment Framework (DQAF), an 3. international standard being developed, but aims to be more comprehensive than DQAF-in both the breadth and depth of auditing quality aspects. Will build upon the existing stock of information concerning quality aspects of 4. SEAs. 5. Is designed primarily for a relatively small, sophisticated group of users (both outside and inside the ABS). 6. Might in the long run use a combination of ABS self-assessment and external assessment (by, say, a consortium of user agencies such as the Treasury, Reserve Bank of Australia, and Prime Minister and Cabinet). 7. May be made available in electronic form so that it can be readily maintained and interrogated. I think that something like QMSEA is needed because existing quality measurement procedures are only partial and give less than comprehensive information for assessment of whether SEAs and their statistics are fit for use. The QMSEA development strategy involves the following steps-Initially defining an ideal set of quality indicators and refining them in cooperation with key stakeholders (producers and high-end users of SEAs). Conducting a pilot test on a couple of subsystems of economic accounts. Existing quality indicators will be assembled, even if imperfect, so that the quality indicator matrix can be populated as much as possible, and a program planned for generating the remaining quality indicators to populate the matrix. After sufficient testing and bedding down on subsystems , QMSEA will be promulgated to full systems of economic accounts. Questions for MAC We would welcome MAC members' comments on any aspect of the QMSEA project, but in particular on the following questions-Is the QMSEA project worthwhile, in the light of the audience likely to comprehend its outputs? Are there aspects of quality for systems of economic accounts not adequately addressed in the QMSEA-type approach? What areas may need strengthening? Are there any suggestions as …