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IPSAS, ESA and the fiscal deficit—a question of calibration

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  • Josette Caruana
  • Louise Grima

Abstract

The academic literature on IPSAS adoption is not clear whether this would lead to a fiscal deficit measure close to that reported in national accounts. This paper presents a case study which attempts to clarify this dilemma. The authors show that IPSAS compliance would result in yet another deficit measure that is nowhere close to the statistical measure, leading to even more confusion.IMPACTIPSAS compliance would neither simplify nor standardize the conversion exercise that EU member countries have to do to change a governmental accounting deficit to the EC’s required statistical deficit. Nor would it directly lead to more reliable statistical data. The authors therefore question the impact of the proposed EPSAS on the quality of macro-surveillance.

Suggested Citation

  • Josette Caruana & Louise Grima, 2019. "IPSAS, ESA and the fiscal deficit—a question of calibration," Public Money & Management, Taylor & Francis Journals, vol. 39(2), pages 113-122, February.
    • Handle: RePEc:taf:pubmmg:v:39:y:2019:i:2:p:113-122
    DOI: 10.1080/09540962.2019.1580897
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