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Ipsas, Ifrs, And The Quality Of The Accounting - With An Accent On Public Management

Author

Listed:
  • Milana OTRUSINOVÁ

    (Engineer PhD., Tomas Bata University in Zlín, Faculty of Management and Economics, Mostní 5139, 760 01 Zlín, Czech Republic)

  • Marie PASEKOVÁ

    (Doc Engineer PhD., Tomas Bata University in Zlín, Faculty of Management and Economics, Mostní 5139, 760 01, Zlín, Czech Republic)

  • David HOMOLA

    (Engineer PhD., Tomas Bata University in Zlín, Faculty of Management and Economics, Mostní 5139, 760 01, Zlín, Czech Republic)

  • Bohumila SVITÁKOVÁ

    (Engineer PhD., Tomas Bata University in Zlín, Faculty of Management and Economics, Mostní 5139, 760 01, Zlín, Czech Republic)

Abstract

Are accounting errors caused by national accounting standards? The goal of this paper is to identify the problems with the quality of accounting information when the new Czech accounting standards are used in the public sector. The aim is then to compare the impact of IPSAS and IFRS on the Czech accounting standards and the accounting error rate of private entities and public sector entities. Data analyzed in this paper were obtained in 2018 and 2019. The results of quantitative research are subjected to statistical testing in order to answer the research questions as well as identify differences between profit and non-profit (public sector) organizations. Results indicate that the impact of Czech GAAP on the occurrence of accounting errors is not statistically significant for either business or public sector entities. In addition, according to respondents, the Czech accounting standards after the public finance accounting reform are not considered to be the usual cause of errors in accounting. Actually, compliance with the updated Czech GAAP improves the quality of the financial statements and avoids errors when preparing financial statements. These findings are in line with several existing papers and thus support the existing idea that IPSAS or IFRS application promotes the quality of accounting.

Suggested Citation

  • Milana OTRUSINOVÁ & Marie PASEKOVÁ & David HOMOLA & Bohumila SVITÁKOVÁ, 2022. "Ipsas, Ifrs, And The Quality Of The Accounting - With An Accent On Public Management," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2022(39), pages 154-169.
    • Handle: RePEc:rom:rampas:v:2022:y:2022:i:39:p:154-169
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    References listed on IDEAS

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    1. Caroline Aggestam Pontoppidan & Isabel Brusca, 2016. "The first steps towards harmonizing public sector accounting for European Union member states: strategies and perspectives," Public Money & Management, Taylor & Francis Journals, vol. 36(3), pages 181-188, April.
    2. Michela Cordazzo, 2013. "The impact of IFRS on net income and equity: evidence from Italian listed companies," Journal of Applied Accounting Research, Emerald Group Publishing Limited, vol. 14(1), pages 54-73, May.
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    5. repec:eme:jaar00:09675421311282540 is not listed on IDEAS
    6. Michela Cordazzo, 2013. "The impact of IFRS on net income and equity: evidence from Italian listed companies," Journal of Applied Accounting Research, Emerald Group Publishing Limited, vol. 14(1), pages 54-73, May.
    Full references (including those not matched with items on IDEAS)

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    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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