Globalization

Governmental accounting and International Financial Reporting Standards

Bibliographic Data

ID4237756
AuthorsAlan J Robb (Saint Mary's University), Sterling Newberry (The University of Sydney, corresponding author)
Year2007
Volume5
Issue4
Pages725-754
Publication date2007-10-16
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueSocio-Economic Review (JOURNAL)
Journal identifiersISSN: 1475-1461 • E-ISSN: 1475-147X
DOI10.1093/ser/mwm017
OpenAlexW2147618877
LanguageEN
Citations received5
References cited2

From the early 1990s, Australia and New Zealand pioneered the application of business-style accounting practices to all government activities. Today these business-style practices are advocated for governments around the world, either via International Financial Reporting Standards or via the similar International Public Sector Accounting Standards (IPSAS). Although accounting might seem purely technical, accounting practices can carry with them significant constitutional and political (social) implications. Business-style accounting was not devised for governments and is not suited to provide the essential constitutional safeguards or to fulfil governments' public accountability obligations. These points are illustrated using evidence from New Zealand before explaining that today's IPSAS developments were led initially from New Zealand. This article urges those in other countries to consider constitutional and political implications before proceeding with this development

Accountability · Accounting information system · Accounting standard · Business · Economics · Financial accounting · Fund accounting · Globalization · Government (linguistics · Management accounting · Mark-to-market accounting · Market economy · Political science · Politics · Positive accounting · Social accounting · Local Government Finance and Decentralization · Public Policy and Administration Research · Regulation and Compliance Studies · Accounting · Law

Tools

Open DOISci-HubOpen Access