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Financial reporting standards for the public sector: New Zealand's 21st-century experience

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  • Carolyn J. Cordery
  • Kevin Simpkins

Abstract

New Zealand was seen as world-leading when public sector financial reports were prepared using sector-neutral accounting standards from 1995 onwards. The decision in 2002 to adopt IFRS was disruptive, effecting new understandings of ‘sector-neutral’, and the standard-setter's approach was unsuccessful in meeting public sector users’ needs. The development of a new strategy finalized in 2012 has created a multi-standards framework, including adapted IPSASB standards applicable from 1 July 2014. While neutrality is still prized, it is within a framework of meeting users’ needs. This paper traces the influences expediting these changes.

Suggested Citation

  • Carolyn J. Cordery & Kevin Simpkins, 2016. "Financial reporting standards for the public sector: New Zealand's 21st-century experience," Public Money & Management, Taylor & Francis Journals, vol. 36(3), pages 209-218, April.
    • Handle: RePEc:taf:pubmmg:v:36:y:2016:i:3:p:209-218
    DOI: 10.1080/09540962.2016.1133979
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    References listed on IDEAS

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    Cited by:

    1. McConville, Danielle & Cordery, Carolyn J., 2020. "How Can New Governance Regulation Develop? Regulatory Dialectics and Mandatory Charity Performance Reporting," QBS Working Paper Series 2020/10, Queen's University Belfast, Queen's Business School.
    2. Jean Damascene Mvunabandi & Charmaine Lathleiff & Paul-Francois Muzindutsi, 2022. "Financial Accounting as a Tool to Enhance Non-Government Organisations Performance: A Case Study of a Large NGO in Durban, South Africa," International Journal of Economics and Financial Issues, Econjournals, vol. 12(3), pages 10-17, May.
    3. Janet Mack & Gareth G. Morgan & Oonagh B. Breen & Carolyn J. Cordery, 2017. "Financial reporting by charities: a matched case study analysis from four countries," Public Money & Management, Taylor & Francis Journals, vol. 37(3), pages 165-172, April.

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