Public sector entities play a critical role in many nations around the world. Such entities have

a wide range of powers bestowed on them by different pieces of legislation, which enable them

to discharge their responsibilities. The role that public sector entities play has facilitated the

development of a more organized public sector accounting regulation, in the form of

International Public Sector Accounting Standards $($IPSAS$)$ tailor made to improve on their

mandate. Notably, such accounting standards have gained recognition all over the world.

Required

a$)$ With the aid of examples, demonstrate how the public sector entities are different from

the private sector. $[10]$

b$)$ Discuss the major reasons that have propelled the establishment and growth of public

sector entities the world over. $[$