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Accounting Reform and IPSAS Adoption in Greece

Author

Listed:
  • Evangelos Chytis
  • Ioannis Georgopoulos
  • Stergios Tasios
  • Ioanna Vrodou

Abstract

Purpose: The study aims to investigate the level of acceptance and preparation of the Local Administration Organizations regarding the adoption of International Public Sector Accounting Standards (IPSAS) in Greece. Design/Methodology/Approach: In order to accomplish this purpose a survey was realized by addressing a questionnaire to officers and employees of the finance department of 325 municipalities in Greece and to the elected representatives who are responsible for their financial management and reporting. Findings: The results from 58 municipalities that participated in the research show that even though the officers and employees of the finance department of municipalities are not familiar with IPSAS, there is a wide acceptance of the need to implement them. It was also concluded that municipalities in Greece are not prepared for the accounting change and the adoption of IPSAS. Overall, Greece appears to be at a premature stage with delays observed in the implementation of existing enacted reforms. Practical Implications: The study provides useful insights on IPSAS implementation process for all the parties engaged in public administration reform such as regulators, standard setters, institutional organizations as well as to countries that are in process or planning to adopt IPSAS. Originality/value: To the knowledge of the authors this is the first study that has examined in depth the perceptions and attitudes of Local Administration Organizations in Greece regarding IPSAS adoption.

Suggested Citation

  • Evangelos Chytis & Ioannis Georgopoulos & Stergios Tasios & Ioanna Vrodou, 2020. "Accounting Reform and IPSAS Adoption in Greece," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 165-184.
    • Handle: RePEc:ers:journl:v:xxiii:y:2020:i:4:p:165-184
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    References listed on IDEAS

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    1. Sandra Cohen & Sotiris Karatzimas & George Venieris, 2015. "The informative role of accounting standards in privatising state-owned property: comparing Greek Governmental Accounting Standards and IPSAS," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 17(1), pages 51-62.
    2. Sandra Cohen & Sotirios Karatzimas, 2016. "Modernizing government accounting standards in Greece: a case of ‘garbage can’ decision-making," Public Money & Management, Taylor & Francis Journals, vol. 36(3), pages 173-180, April.
    3. Giovanna Dabbicco & Giorgia Mattei, 2021. "The reconciliation of budgeting with financial reporting: A comparative study of Italy and the UK," Public Money & Management, Taylor & Francis Journals, vol. 41(2), pages 127-137, February.
    4. Ian Ball, 2015. "Debate: Would IPSAS help Greece?," Public Money & Management, Taylor & Francis Journals, vol. 35(6), pages 397-398, November.
    5. Fawzi Laswad & Nives Botica Redmayne, 2015. "IPSAS or IFRS as the Framework for Public Sector Financial Reporting? New Zealand Preparers’ Perspectives," Australian Accounting Review, CPA Australia, vol. 25(2), pages 175-184, June.
    6. FILIPPOS STAMATIADIS, Mr, 2009. "Investigating the Governmental Accounting Reform of Greek National Health System (ESY): Some preliminary Evidence," MPRA Paper 19649, University Library of Munich, Germany, revised 03 Sep 2009.
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    Citations

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    Cited by:

    1. Olympia G. Gkouma & John Filos, 2022. "Assessing the Impact of IPSAS on Financial Reporting and Public Management in Greece," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 72(1-2), pages 56-79, January-J.

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    More about this item

    Keywords

    Accounting; public sector; IPSAS; adoption; local administration; Greece.;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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