IDEAS home Printed from https://ideas.repec.org/a/jfr/rwe111/v9y2018i2p44-51.html
   My bibliography  Save this article

Adoption of International Public Sector Accounting Standards in Public Sector of Developing Economies -Analysis of Five South Asian Countries

Author

Listed:
  • Zhuquan Wang
  • Javed Miraj

Abstract

We examined the extent of adoption of the International Public Sector Accounting Standards (IPSAS) in South Asia and the challenges that are decelerating this process. The moderating organization, International Public Sector Accounting Standards Board (IPSAB), instituted IPSAS in an effort to improve financial reporting by public sector organizations and for comparability purposes. The aims of this research were to establish to what extent the IPSAS has been adopted in South Asia and determine the drawbacks contributing to its slow adoption process. To answer the study questions a literature review of the South Asian countries that have adopted the IPSAS was conducted. The study findings show that most of the South Asian nations have adopted the IPSASs though to different extents. Nepal, Bangladesh, Pakistan and Sri Lanka have implemented the IPSAS but taking different approaches and directions, while India still uses the cash based accounting system. The key barriers include; lack of experienced staff, delay in provision of information by the public entities, and lack of a defined implementation timeframe which seem to cut across these countries.

Suggested Citation

  • Zhuquan Wang & Javed Miraj, 2018. "Adoption of International Public Sector Accounting Standards in Public Sector of Developing Economies -Analysis of Five South Asian Countries," Research in World Economy, Research in World Economy, Sciedu Press, vol. 9(2), pages 44-51, June.
    • Handle: RePEc:jfr:rwe111:v:9:y:2018:i:2:p:44-51
    DOI: 10.5430/rwe.v9n2p44
    as

    Download full text from publisher

    File URL: http://www.sciedu.ca/journal/index.php/rwe/article/view/14701/9044
    Download Restriction: no
    File URL: http://www.sciedu.ca/journal/index.php/rwe/article/view/14701
    Download Restriction: no
    File URL: https://libkey.io/10.5430/rwe.v9n2p44?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Tobias Jagalla & Peter Skaerbaek & Sebastian D. Becker, 2014. "The translation of accrual accounting and budgeting and the reconfiguration of public sector accountants' identities," Post-Print hal-01025960, HAL.
    2. 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.
    3. Francesco De Luca & Jenice Prather-Kinsey, 2018. "Legitimacy theory may explain the failure of global adoption of IFRS: the case of Europe and the U.S," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 22(3), pages 501-534, September.
    4. Hopper, Trevor & Lassou, Philippe & Soobaroyen, Teerooven, 2017. "Globalisation, accounting and developing countries," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 43(C), pages 125-148.
    5. Becker, Sebastian D. & Jagalla, Tobias & Skærbæk, Peter, 2014. "The translation of accrual accounting and budgeting and the reconfiguration of public sector accountants’ identities," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 25(4), pages 324-338.
    6. Muhammad Jahangir Ali & Kamran Ahmed, 2017. "Determinants of accounting policy choices under international accounting standards," Accounting Research Journal, Emerald Group Publishing Limited, vol. 30(4), pages 430-446, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Arwan Gunawan & Winwin Yadiati & Harry Suharman & K. Poppy Sofia, 2020. "Linkages to Budgetary Control and Budgetary Absorption Performance," International Journal of Economics and Financial Issues, Econjournals, vol. 10(5), pages 304-316.
    2. Staci A. Kenno & Michelle C. Lau & Barbara J. Sainty, 2018. "In Search of a Theory of Budgeting: A Literature Review," Accounting Perspectives, John Wiley & Sons, vol. 17(4), pages 507-553, December.
    3. Grzegorz Bucior & Aleksandra Zurawik, 2022. "The Autonomy of Public Sector Units in the Process of Formulating Accounting Policy – Evidence from Poland," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 555-581.
    4. Francesco Badia & Tiziana Landi & Valentina Montin, 2019. "Innovation in Public Sector Accounting: a New Role for Local Governments?," Working Papers 2019048, University of Ferrara, Department of Economics.
    5. Modell, Sven & Yang, ChunLei, 2018. "Financialisation as a strategic action field: An historically informed field study of governance reforms in Chinese state-owned enterprises," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 54(C), pages 41-59.
    6. Zubir Azhar & Ervina Alfan & Krishnen Kishan & Nurul Husna Assanah, 2022. "Accrual Accounting at Different Levels of the Public Sector: A Systematic Literature Review," Australian Accounting Review, CPA Australia, vol. 32(1), pages 36-62, March.
    7. Mihret, Dessalegn Getie & Mirshekary, Soheila & Yaftian, Ali, 2020. "Accounting professionalization, the state, and transnational capitalism: The case of Iran," Accounting, Organizations and Society, Elsevier, vol. 82(C).
    8. Ghattas, Peter & Soobaroyen, Teerooven & Marnet, Oliver, 2021. "Charting the development of the Egyptian accounting profession (1946–2016): An analysis of the State-Profession dynamics," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 78(C).
    9. Lassou, Philippe J.C. & Hopper, Trevor & Tsamenyi, Mathew & Murinde, Victor, 2019. "Varieties of neo-colonialism: Government accounting reforms in Anglophone and Francophone Africa – Benin and Ghana compared," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 65(C).
    10. Jayasinghe, Kelum & Adhikari, Pawan & Soobaroyen, Teerooven & Wynne, Andy & Malagila, John & Abdurafiu, Noah, 2021. "Government accounting reforms in Sub-Saharan African countries and the selective ignorance of the epistemic community: A competing logics perspective," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 78(C).
    11. Kimani, Danson & Ullah, Subhan & Kodwani, Devendra & Akhtar, Pervaiz, 2021. "Analysing corporate governance and accountability practices from an African neo-patrimonialism perspective: Insights from Kenya," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 78(C).
    12. Lassou, Philippe J.C. & Hopper, Trevor & Ntim, Collins, 2021. "How the colonial legacy frames state audit institutions in Benin that fail to curb corruption," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 78(C).
    13. Jenice Prather-Kinsey & Francesco De Luca & Ho-Tan-Phat Phan, 2022. "Improving the global comparability of IFRS-based financial reporting through global enforcement: a proposed organizational dynamic," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 19(3), pages 330-351, September.
    14. Martina K. Linnenluecke & Jacqueline Birt & Xiaoyan Chen & Xin Ling & Tom Smith, 2017. "Accounting Research in Abacus, A&F, AAR, and AJM from 2008–2015: A Review and Research Agenda," Abacus, Accounting Foundation, University of Sydney, vol. 53(2), pages 159-179, June.
    15. Thuy Thanh Tran & Christian Herzig, 2020. "Material Flow Cost Accounting in Developing Countries: A Systematic Review," Sustainability, MDPI, vol. 12(13), pages 1-18, July.
    16. Francesca Gennari & Daniela M. Salvioni, 2019. "CSR committees on boards: the impact of the external country level factors," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 23(3), pages 759-785, September.
    17. Crawford, Louise, 2019. "Exploring the emancipatory dimensions of globalisation: The struggle over IFRS8 and country-by-country reporting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 63(C).
    18. Akisik, Orhan & Gal, Graham & Mangaliso, Mzamo P., 2020. "IFRS, FDI, economic growth and human development: The experience of Anglophone and Francophone African countries," Emerging Markets Review, Elsevier, vol. 45(C).
    19. Gómez-Villegas, Mauricio & Larrinaga, Carlos, 2023. "A critical accounting project for Latin America? Objects of knowledge or ways of knowing," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 93(C).
    20. Mohamad-Yusof, Nor Zalina & Wickramasinghe, Danture & Zaman, Mahbub, 2018. "Corporate governance, critical junctures and ethnic politics: Ownership and boards in Malaysia," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 55(C), pages 33-52.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jfr:rwe111:v:9:y:2018:i:2:p:44-51. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gina Perry (email available below). General contact details of provider: http://rwe.sciedupress.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.