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Impact of IPSAS on Reforming Governmental Financial Information Systems: A Comparative Study

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  • J. CHRISTIAENS
  • B. REYNIERS

Abstract

The diversity in reformed governmental financial information systems created a need for harmonized international accounting standards, resulting in the elaboration of the IPSAS (International Public Sector Accounting Standards). By means of a survey to experts this study examines the extent to which governments in Europe adopt IPSAS-inspired accrual accounting and how the differing levels of adoption can be explained. The study reveals diversity in the adoption process of IPSAS-inspired accrual accounting. Some governments still account cash based. Only a minority apply IPSASs. The majority of local and central governments apply accrual accounting disregarding IPSASs. The trend toward accrual accounting can be explained by the need for transparency, efficiency and performance management. The fact that the IPSAS are unique and offer specific know-how is the main argument to make use of them. A number of jurisdictions do not adopt IPSASs because they transfer their own local business accounting rules.

Suggested Citation

  • J. Christiaens & B. Reyniers, 2009. "Impact of IPSAS on Reforming Governmental Financial Information Systems: A Comparative Study," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 09/600, Ghent University, Faculty of Economics and Business Administration.
    • Handle: RePEc:rug:rugwps:09/600
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    References listed on IDEAS

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    1. Paul Sutcliffe, 2003. "The Standards Programme of IFAC's Public Sector Committee," Public Money & Management, Taylor & Francis Journals, vol. 23(1), pages 29-36, January.
    2. Pollitt, Christopher & Bouckaert, Geert, 2004. "Public Management Reform: A Comparative Analysis," OUP Catalogue, Oxford University Press, edition 2, number 9780199268498, Decembrie.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Vincenzo Sforza, 2014. "Dialogue with standard setters," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2014(2-3-4), pages 141-154.
    2. Cristian Carini & Laura Rocca & Claudio Teodori & Monica Veneziani, 2017. "The Reporting Entity in Private-Public Accounting Harmonisation. Is Control Enough for the Local Government Consolidated Financial Statements?," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2017(1), pages 5-29.
    3. J. Christiaens & C. Vanhee & F. Manes-Rossi & N. Aversano, 2013. "The Effect of IPSAS on Reforming Governmental Financial Reporting: an International Comparison," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 13/845, Ghent University, Faculty of Economics and Business Administration.
    4. Andrei-Răzvan CRIȘAN, 2014. "Similarities And Dissimilarities Between The Romanian Public Accounting System And Ipsas 1 – Presentation Of Financial Statements," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 4, pages 229-235, July.
    5. Oulasvirta Lasse Olavi, 2014. "Governmental Financial Accounting and European Harmonisation: Case Study of Finland," Accounting, Economics, and Law: A Convivium, De Gruyter, vol. 4(3), pages 237-263, December.
    6. Andrei R. CRIŞAN, 2014. "Governmental Financial Reports: Between Variety And Integration," CrossCultural Management Journal, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 1, pages 55-65, May.
    7. Andrei-Razvan CRISAN, 2016. "An Assessment Of The Transparency Level In Romanian Public Universities," CrossCultural Management Journal, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 2, pages 83-91, December.

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    Keywords

    Public sector accounting reforms; IPSAS; New Public Management; comparative study;
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