Institutional Isomorphism And Adoption Of International Public Sector Accounting Standards By African Countries

The international harmonization of financial reporting standards in the public sector is one of the significant public sector accounting reforms which have gained prominence in the recent past under the New Public Financial Management order. However, previous empirical evidence provided mixed results on the extent of African countries’ decision on the adoption of International Public Sector Accounting Standards and its relationship with institutional isomorphism factors. The purpose of this study was to examine the influence of institutional isomorphism (normative, mimetic and coercive) on the adoption International Public Sector Accounting Standards by African countries. The target population was 54 countries; however the final sample was 29 countries which comprised the dataset. A logistic regression analysis was thereafter conducted. Based on the Institutional Theory, the study revealed external public funding (coercive isomorphic pressure), the countries’ global competitiveness (mimetic isomorphic pressure), and human capital (normative isomorphic pressure) were non significant factors in a countries decision to adopt IPSAS. This study contributes to the literature on the international accounting in the public sector. The results of the study have significant managerial and theoretical implications for accounting standards regulators, researchers, and multilateral organizations.

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Harmonising European Public Sector Accounting Standards (EPSAS): Issues and Perspectives for Europe’s Economy and Society

Accounting Economics and Law - A Convivium ◽

10.1515/ael-2014-0015 ◽

2014 ◽

Vol 4 (3) ◽

Cited By ~ 11

Author(s):

Yuri Biondi

Keyword(s):

Public Sector ◽

Financial Reporting ◽

Accounting Standards ◽

International Accounting Standards ◽

Accounting Systems ◽

The Public ◽

Financial Reporting Standards ◽

Adoption And Implementation ◽

European Public ◽

Public Sector Accounting

AbstractAccounting systems play a hidden but fundamental role as mode and instrument of representation, coordination and organisation for the public sector and its specific public action. Therefore, financial and accounting reforms transform, implement and reshape public policies as well as the working and very existence of public administration. Last March 2013, the European Commission started a relevant project with the intention to create harmonised “European Public Sector Accounting Standards” (EPSAS) and implement them in the Member States. Between 1995 and 2002, a similar project was already achieved for private sector accounting standards-setting, leading to adoption and implementation of International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board (IASB). The EPSAS project should decide if public sector accounting standards-setting shall follow a similar pattern to converge towards the International Public Sector Accounting Standards (IPSAS) that transplant the IFRS in the public sector. This choice may have fundamental implications for the European (Monetary) Union, since public sector accounting and public finances are fundamental elements of its institutional framework. This thematic issue aims to provide analyses and perspectives on this ongoing public sector accounting harmonisation process in Europe, addressing its governance and contents, as well as its consequences and implications for Europe’s economy and society.

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The Reporting Entity in Private-Public Accounting Harmonisation. Is Control Enough for the Local Government Consolidated Financial Statements?

FINANCIAL REPORTING ◽

10.3280/fr2017-001001 ◽

2017 ◽

pp. 5-29 ◽

Cited By ~ 4

Author(s):

Cristian Carini ◽

Laura Rocca ◽

Claudio Teodori ◽

Monica Veneziani

Keyword(s):

Public Sector ◽

Local Government ◽

Accounting Standards ◽

Financial Statements ◽

Consolidated Financial Statements ◽

The Public ◽

Financial Accountability ◽

Public Sector Accounting ◽

Definition Of ◽

Reporting Entity

The European Commission initiated a discussion on the expediency of using the International Public Sector Accounting Standards (IPSAS), based on the IAS/IFRS, as a common base for harmonizing the public sector accounting systems of the member states. However, literature suggests that accounting is not neutral with respect to the economic, social and political dimensions. In the perspective of evolution of the accounting regulation outlined, balanced between accountability, with the need to represent phenomena for reporting pur-poses, and decisionmaking issues, which concentrates on the quantitative importance of the values, the paper aims to analyse the effects of the application of different criteria for the definition of the reporting entity of the local government consolidated financial statements (CFS). The Italian PCA 4/4, the test of control and the financial accountability approaches are examined. The evidence that emerged from the case studies examined identifies several criticalities in the Italian PCA 4/4 and support the thesis that the financial accountability approach is more effective in providing a complete representation of the public resources entrusted to and managed by the group, whereas the control approach better approximates quantification of the group results in terms of central government surveillance. The analysis highlights the importance of the post implementation review period and the opportunity to contextualize the adoption of the consolidated financial statement in the broader spectrum of the accounting harmonization process, participating in the process of definition of the European Public Sector Accounting Standards (EPSAS).

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First-time adoption of International Public Sector Accounting Standards by Russian universities: Practical aspects

International Accounting ◽

10.24891/ia.23.4.364 ◽

2020 ◽

Vol 23 (4) ◽

pp. 364-383

Author(s):

L.I. Kulikova ◽

I.I. Yakhin

Keyword(s):

Higher Education ◽

Public Sector ◽

Financial Reporting ◽

Higher Education Institutions ◽

Accounting Standards ◽

Educational Process ◽

Academic Excellence ◽

Public Sector Accounting ◽

First Time ◽

Russian Universities

Subject. This article examines the practice of first-time applying the International Public Sector Accounting Standards (IPSAS) by Russian higher education institutions. Objectives. The article aims to identify and address the problems associated with such application, and conduct a critical analysis of Russian universities' compliance with the requirements of the International Standards on their first-time adoption. Methods. For the study, we used observation, systematization, and a comparative analysis. Results. The article examines and describes the practical experience of the first-time use of IPSAS in the preparation of reporting by Russian educational institutions participating in the Russian Academic Excellence Project (5Top100 Project). It presents the results of the most typical reclassification adjustments of reporting items made by the universities when preparing their inductive statements of financial position as of the date of transition to IPSAS. Conclusions and Relevance. Most of the universities studied complied with the requirements of the IPSAS first-time adoption and provided comparative information in their first IPSAS financial reporting. The importance of the study is to justify the provision that financial reporting in accordance with IPSAS is appropriate to improve the international competitiveness of universities, which makes it possible to better reflect financial information on the activities of universities. The results of the study can be used in the practical activities of the Russian economy public sector organizations, and in the educational process of higher education institutions.

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The IPSASB's recent strategies: opportunities for academics and standard-setters

Journal of Public Budgeting Accounting & Financial Management ◽

10.1108/jpbafm-04-2020-0050 ◽

2020 ◽

Vol 32 (3) ◽

pp. 315-319 ◽

Cited By ~ 1

Author(s):

Gwenda Jensen

Keyword(s):

Public Sector ◽

Financial Reporting ◽

Design Methodology ◽

Accounting Standards ◽

Fitness For Purpose ◽

Content Type ◽

Financial Reporting Standards ◽

Public Sector Accounting ◽

Ongoing Dialogue ◽

Practical Implications

PurposeThe purpose of this article is to contribute to an ongoing dialogue between practitioners and academics. This article describes the International Public Sector Accounting Standards Board (IPSASB) recent strategies and highlights the IPSASB's increasing outreach to academics.Design/methodology/approachThis is a practitioner's viewpoint which reflects the IPSASB's publicly available documents, and the opinions of a practitioner directly involved in the IPSASB's work and International Public Sector Accounting Standards (IPSAS) development.FindingsThe findings are that the IPSASB has increased its outreach to academics and now academics have more opportunities to engage with the IPSASB and IPSAS developments. The IPSASB's strategy has remained relatively constant over time, focusing on IPSAS to address public sector-specific issues, alignment with the International Financial Reporting Standards (IFRS) and reduction of differences between IPSAS and Government Finance Statistics (GFS) reporting guidelines.Research limitations/implicationsThe limitations of this article (which are also its strength in terms of fitness for purpose) are that as a practitioner's viewpoint it provides a brief overview and personal judgments, rather than an empirical analysis of developments applying a theoretical framework.Practical implicationsThe practical implications were IPSASB's increased outreach to the research community providing opportunities for academics to have increased input into IPSAS development, with likely benefits to researchers and the IPSASB.Social implicationsPractitioners’ engagement with academics supports increased understanding of the respective views leading to better outcomes for practitioners and academics working in the area of public sector financial reporting and its regulation.Originality/valueThis article is the first to (a) describe the IPSASB's increasing outreach to academics during 2019–2020 and (b) compare the IPSASB's strategies for the period of 2019–2023, with its strategies since the beginning of IPSAS developments in 1996–1997.

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Accounting Reforms for Accountable Public Sector Management

Advances in Electronic Government, Digital Divide, and Regional Development - Tools, Strategies, and Practices for Modern and Accountable Public Sector Management ◽

10.4018/978-1-7998-1385-9.ch002 ◽

2020 ◽

pp. 41-64

Author(s):

Chitra Sriyani De Silva Lokuwaduge ◽

Keshara M. De Silva Godage

Keyword(s):

Developing Countries ◽

Public Sector ◽

Sri Lanka ◽

Financial Management ◽

Public Management ◽

New Public Management ◽

Developed Countries ◽

The Public ◽

New Public ◽

Public Sector Accounting

Accounting reforms in the public sector have become one of the most debated aspects of the public sector financial management during the last three decades. Following the steps of developed countries around the globe, Sri Lanka as a developing country made initiatives to adopt international public sector accounting standards (IPSAS). The purpose of this study is to analyse the progress and the challenges they face in adopting IPSAS as a new public management (NPM) reform in Sri Lanka to enhance public sector accountability. Public sector accounting reforms in the developing countries in Asia is relatively under researched. Using the NPM concept, this study attempts to fill this gap. This chapter argues that even though Sri Lanka has initiated the move towards adopting IPSAS, developing countries face practical problems in adopting reforms due to their contextual factors such as limited institutional capacity and resources, high political involvements in decision-making, and high informality.

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The harmonization of government financial information systems: the role of the IPSASs

International Review of Administrative Sciences ◽

10.1177/0020852307078424 ◽

2007 ◽

Vol 73 (2) ◽

pp. 293-317 ◽

Cited By ~ 93

Author(s):

Bernardino Benito ◽

Isabel Brusca ◽

Vicente Montesinos

Keyword(s):

Public Sector ◽

Financial Reporting ◽

Central Government ◽

Accounting Standards ◽

Financial Information ◽

Accounting Systems ◽

Starting Point ◽

Public Sector Accounting ◽

Near Future

The publication of International Public Sector Accounting Standards (IPSASs) in the field of governmental financial reporting has raised the necessity for a wide-ranging discussion about the harmonization of public sector accounting systems. The article has a double aim: to show the adoption or not of IPSASs in local and central government and to analyse the level of convergence between the different countries studied. In order to achieve these objectives, we carried out an empirical study, whose results allow us to show that while some accounting systems are very close to the IPSASs model, others are completely different. Nevertheless, we think that this could be a starting point and that in the near future countries could tend towards IPSASs more and more, which may be the most probable way to reach convergence accounting systems between them.

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Perception of Government Accountants on Current Public Sector Accounting Practices and Implementation of Public Sector Accounting Standards in the Sri Lanka

Asian Journal of Finance & Accounting ◽

10.5296/ajfa.v11i1.14469 ◽

2019 ◽

Vol 11 (1) ◽

pp. 76

Author(s):

Vickneswaran Anojan

Keyword(s):

Public Sector ◽

Sri Lanka ◽

Public Expenditure ◽

Accounting Standards ◽

The Public ◽

Reporting Practices ◽

Public Sector Organizations ◽

Public Sector Accounting ◽

Accrual Basis ◽

Assets Management

The main aim of the study is to find out the perception of government accountants on current public sector accounting practices and implementation of public sector accounting standards in the Sri Lanka. Public sector accounting practices involve with public expenditure, budget preparation, maintain proper accounting records, assets management, public financial management and provide reports on the public expenditure and revenue. Most of the public sector organizations do not prepare final accounts on accrual basis in the Sri Lanka. Primary data used in this study which data collected from government accountants in Sri Lanka. Mean analysis confirmed that there is moderate level of public sector accounting practices and implementation of public sector accounting standards in the Sri Lanka. Correlation analysis confirmed that there is significant relationship between public sector accounting practices and implementation of public sector accounting standards. Implementation of public sector accounting standards are positively impact on the public sector’s financial reporting practices and assets management practices in the Sri Lanka. Also below 23 percentage of public sector organizations are preparing final accounts on accrual basis. More than 97 percentage government accountants have ability to prepare annual accounts on accrual basis. Government administrators, policy makers and professional institutions should motivate effective and efficient implementation of the public sector accounting standards which will lead to a healthy public sector accounting practices in Sri Lanka.

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EFFECT OF ADOPTION OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS (IPSAS) IN THE PUBLIC SECTOR OF DELTA STATE

International Journal of Advanced Academic Research ◽

10.46654/ij.24889849.s61018 ◽

2015 ◽

pp. 132-153

Author(s):

Nzewi Nzewi ◽

Enuenwemba Faith

Keyword(s):

Regression Analysis ◽

Public Sector ◽

Accounting Standards ◽

Population Data ◽

Sample Population ◽

The Public ◽

Public Sector Accounting ◽

Contrary View ◽

Ministry Of Finance ◽

Nigerian Government

The study prompted by the inconsistent and contradictory findings from the previous studies; ranging from positive to negative, hence some authors are seeing it as a welcome development while others are having a contrary view to it. This study therefore, determined the effect of international public sector accounting standards (IPSAS) on Delta State ministry of finance with emphasis on accountability and, transparency among public officers in Delta State. Survey research design will be adopted. A sample of one hundred and eighty five (185) was drawn from a population of three hundred and forty three (343) staff from Delta State Ministries, Departments and Agencies (MDAs). Data was obtained from questionnaire administered on the sample population. Data obtained was analyzed using five point likert’s scale and the formulated hypotheses were tested using regression analysis with aid of SPSS Version 20.0. From the analysis of the data the adoption of International public sector accounting standards leads to accountability and transparency among public officers in the ministry. Based on this, the study recommends that Nigerian government should provide the necessary requirements for full implementation and sustenance of IPSASs in the public sector if it is actually sincere and serious about tackling corruption in the country.

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Factors Influencing the Implementation of International Public Sector Accounting Standards in Pakistan

International Journal of Business and Management ◽

10.5539/ijbm.v14n9p15 ◽

2019 ◽

Vol 14 (9) ◽

pp. 15

Author(s):

Javed Miraj ◽

Zhuquan Wang

Keyword(s):

Public Sector ◽

Financial Reporting ◽

Population Sample ◽

Accounting Standards ◽

Factors Affecting ◽

Financial Reporting Standards ◽

Accountability Measures ◽

Public Sector Accounting ◽

The Government ◽

Poor Management

The significance and impact of Accrual-based Public Sector Accounting Standards (APSAS) in financial reporting has in recent times gained traction and has prompted debates which are aligned towards APSAS reporting. This implies that reforms in the government’s management systems are becoming critical towards examination of actions and steps taken to enhance demands for better transparency and accountability in the management of public finance. As is presently presented in Pakistan, there are numerous fundamental challenges that currently inhibit the efficiency of the government’s finance and accounting management. These problems arise due to poor supervision, poor management of basic financial functions, inefficient financial information including support for decision making, poor staff motivation and finally lack of proper accountability measures. Due to these arising challenges, the purpose of this study is to determine the factors affecting the implementation of Accrual-based International Public sector Accounting Standards (AIPSAS) in public sector of Pakistan. The study whose objective was to evaluate the barriers in the adoption of AIPSAS in Pakistan adopted a descriptive qualitative study model. A five-point Likert type scale was utilized to evaluate the results of the study. The study adopted simple randomization process to obtain the population sample group/respondents. The results of the research study recommended improvement of capacity building through training and offering educational courses which will help advance the enforcement of strong financial reporting standards.

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Perkembangan Penelitian Akuntansi Sektor Publik di Indonesia

Assets Jurnal Akuntansi dan Pendidikan ◽

10.25273/jap.v8i2.4647 ◽

2019 ◽

Vol 8 (2) ◽

pp. 94

Author(s):

Harumi Puspa Rizky ◽

Doddy Setiawan

Keyword(s):

Public Sector ◽

Financial Reporting ◽

Local Governments ◽

Quantitative Methods ◽

Financial Accounting ◽

Research Topics ◽

The Public ◽

Accounting Research ◽

Field Samples ◽

Public Sector Accounting

ABSTRAKPenelitian ini bertujuan untuk memberikan gambaran terkait perkembangan penelitian akuntansi sektor publik di Indonesia. Metode yang digunakan dalam penelitian ini adalah charting the field. Sampel yang diambil berasal dari 22 jurnal terakreditasi di Indonesia dan diperoleh 137 artikel selama tahun 2010-2018. Penelitian ini mengklasifikasikan artikel berdasarkan topik dan metode penelitian. Hasil penelitian ini menunjukkan bahwa topik yang paling banyak digunakan dalam penelitian akuntansi sektor publik adalah topik mengenai akuntansi keuangan dan untuk model yang sering digunakan adalah metode kuantitatif dan juga metode survei serta archival. Topik akuntansi keuangan pada sektor publik menjadi topik terbanyak yang diteliti dikarenakan akuntansi pada sektor publik masih menjadi perhatian khusus dan masih banyak pemerintah daerah yang terkendala pelaporan keuangan. Sementara itu dari topik penelitian yang paling sedikit dilakukan dari tujuh kategori adalah topik mengenai perpajakan dan sistem akuntansi.ABSTRACTThis study aims to provide an overview of the development of public sector accounting research in Indonesia. The method used in this research is charting the field. Samples taken came from 22 accredited journals of Indonesia and 137 articles written during 2010-2018. This study classifies articles based on research topics and methods. The results of this study indicate that the topic most widely used in public sector accounting research is the topic of financial accounting and for models that are often used are quantitative methods as well as survey and archival methods. The topic of financial accounting in the public sector is the most researched topic because accounting in the public sector is still a particular concern and many local governments are constrained by financial reporting. Meanwhile, from the research topics, at least seven of the categories were taxation and accounting systems.

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