Accounting Reform and IPSAS Adoption in Greece

Chytis, Evangelos; Georgopoulos, Ioannis; Tasios, Stergios; Vrodou, Ioanna

doi:10.35808/ersj/1678

Cited by 7 publications

(13 citation statements)

References 9 publications

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“…Extant literature points towards functionalist (e.g. achieving higher performance: Brunsson et al, 2012, or receiving better conditions when borrowing on the credit market: Chytis et al, 2020) and institutionalist perspectives (coercive, normative and mimetic isomorphic pressures to gain and maintain organizational legitimacy; Jorge et al, 2020;Oulasvirta, 2014;Tagesson, 2015). Coercive pressures are particularly relevant for emerging economies (stemming from donor organizations), as, e.g.…”

Section: Standardization Deviations and Practice Variationmentioning

confidence: 99%

“…The objective of IPSAS is "to ensure comparability both with the entity's financial statements of previous periods and with the financial statements of other entities" (IPSASB, 2020, p. 163). Another expected positive effect of comparability is favourable conditions for borrowers on credit markets (ACCA, 2017;Chytis et al, 2020), so governments are expected to have an interest in aligning their national counterparts with these established international standards.…”

Section: Introductionmentioning

confidence: 99%

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Implementation of the international public sector accounting standards in Europe. Variations on a global theme

2021

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As part of introducing accrual accounting in the public sector, many governments havevoluntarilyimplemented the International Public Sector Accounting Standards (IPSAS) for financial reporting. Amongst other claimed benefits, IPSAS have been argued to facilitate comparison of adopters' financial reports and to lead to favourable conditions on credit markets. However, governments that are confronted with the implementation decision face a trade-off between unaltered adoption, partial adoption, adaptation and non-adoption of standards. Drawing on insights from the literature on standardization and practice variation, this paper analyses the reasons, expressed by various actors from nine European countries, for deviating from implementing unaltered IPSAS and proposes a taxonomy of these reasons. The results show that, first, substantial deviations exist, and second, there is a plethora of reasons for them. These deviations are presented and then structured in the further course of the paper. As a consequence of deviations, achieving comparability as the central aim of standardization runs the risk of being undermined.

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Section: Standardization Deviations and Practice Variationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Implementation of the international public sector accounting standards in Europe. Variations on a global theme

2021

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“…The literature refers to potential benefits of IPSAS adoption, such as increasing accountability and transparency, the comparability among governments or the legitimacy of the standards and, therefore, of governments that implement them (Castañeda-Rodriguez, 2022;Christiaens et al, 2015;EC, 2013;IPSASB, 2020;Kartiko et al, 2018;Manes-Rossi et al, 2016;Oulasvirta, 2021). Another impetus for the IPSAS use can be the favorable effects of comparability for borrowing on credit markets (ACCA, 2017;Chytis et al, 2020). Under this favorable environment for IPSAS adoption, and following some mimetic and coercive effects (DiMaggio and Powell, 1991), many countries have reformed their accounting systems in line with international standards (Brusca et al, 2015;Brusca and Martinez, 2016;Christiaens et al, 2015;Gom ez-Villegas et al, 2020;Kartiko et al, 2018;Polzer et al, 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

“…, 2016; Oulasvirta, 2021). Another impetus for the IPSAS use can be the favorable effects of comparability for borrowing on credit markets (ACCA, 2017; Chytis et al. , 2020).…”

Section: Literature Reviewmentioning

confidence: 99%

The IPSAS implementation and the use and usefulness of accounting information: a comparative analysis in the Iberian Peninsula

Gomes

Brusca

Fernandes

et al. 2022

JPBAFM

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PurposeThis paper aims to research the reforms toward International Public Sector Accounting Standards (IPSAS) implementation and the perceptions about the use and usefulness of accounting information in the context of local government in the Iberian Peninsula. The paper focuses on the perspective of chief financial officers (CFOs).Design/methodology/approachThe paper uses a mix of qualitative and quantitative methods. Beyond the study of the context of the reform in both countries through the consultation of legislation and official documents, the authors collected primary data through a survey addressed to the local CFO to catch both countries' perceptions and beliefs toward the topic under research.FindingsThe authors' findings evidence that both countries have made strong efforts to adapt IPSAS to both countries' national standards. The coercive and mimetic isomorphism and the private accounting normative were important determinants in the reform. Looking at perceptions, budget information continues to be perceived as the king information for public management and decision-making. In a comparative way, the Portuguese CFO seems to be more optimistic concerning the use and usefulness of the new accounting system. The strong orientation of CFO to cash-basis and budgeting information is an important explanation of the lower use and usefulness, essentially in the Spanish context. The regression results show that individual perceptions and beliefs on the accounting reform influence the opinion about the usefulness and use of financial information.Research limitations/implicationsThe use of the survey method has some limitations very discussed in the literature that are also applied in this study.Practical implicationsThe paper has the potential to contribute to the academic, political and practitioner discussion of the core purposes of financial accounting information in the public sector and financial accounting information's impacts on the European Public Sector Accounting Standards (EPSAS) framework.Originality/valueThe recent adoption of the new accounting system in local governments of both contexts contributes to knowledge on the public sector accounting reforms toward the transition to accrual accounting and the IPSAS. The innovative character of the paper contributes to better clarify how the perceptions of the accounting reform influence the usage level of public financial information.

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“…Due to that studies have been carried out in different areas within and outside Nigeria on adoption of IPSAS and financial reporting quality. The studies of (Brusca, et al, 2015;Tanjeh, 2016;Pena & Franco, 2017;Zhuquan and Javed, 2018;Ababneh et al, 2019;Zandi & Abdullah, 2019;Chytis et al, 2020;Bashir & Amir, 2020) were conducted in foreign countries like Indian, Asia, Kenya, Nepal, Bangladesh, Pakistan and Sri Lanka and found that adoption of IPSAS has moderate effect on the quality of financial reports in public sector. While (Obara& Efeeloo, 2017;Okere et al, 2017;Abimbola et al, 2017;Ademola et al, 2017;Akinleye et al, 2018;Olola , 2019;Obineme et al, 2021;ThankGod et al, 2021) conducted their studies in various states and local government in Nigeria like; Ondo, Ekiti, Oyo, Anambra and some other States in Nigeria and found that adoption of IPSAS increases the level of financial reporting quality.…”

Section: Introductionmentioning

confidence: 99%

Public Sector Accounting Standard Adoption and Quality of Financial Reporting in Higher Institutions in Rivers and Bayelsa States, Nigeria

Zibaghafa,

Chukwu

2024

EJAAFR

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This study investigated public sector accounting standards adoption and quality of financial reporting in higher institutions in Rivers and Bayelsa States, Nigeria. The study adopted survey research design. The study population consisted of all public higher institutionsin both states and a sample size of three hundred and twenty (320) was utilized for the study. Primary and secondary sources of data were employed while univariate and multivariate analysis were used for data analysis. The multivariate analysis revealed that Pre – and Post- IPSAS adoption has no significant difference in the financial reporting of relevance while faithful representation, understandability, timeliness, verifiability and comparability has significant differences in the Pre- and Post-IPSAS adoption periods in the higher institutions in Rivers and Bayelsa State. The study concluded that Pre- and Post-IPSAS periods has no significant influence with relevance of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing faith representation of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing understandability of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing timeliness of higher institutions in Rivers and Bayelsa States; and both Pre- and Post-IPSAS adoption period has significant difference in influencing verifiability of higher institutions in Rivers and Bayelsa State. Hence the study recommended amongst others that public sector entities should adopt both Pre-IPSAS and Post-IPSAS principles in preparing financial reporting quality in term of faithful representation because this study affirmed that both Pre and Post IPSA has significant difference in the financial reporting in term of faithful representation.

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Accounting Reform and IPSAS Adoption in Greece

Cited by 7 publications

References 9 publications

Implementation of the international public sector accounting standards in Europe. Variations on a global theme

Implementation of the international public sector accounting standards in Europe. Variations on a global theme

The IPSAS implementation and the use and usefulness of accounting information: a comparative analysis in the Iberian Peninsula

Public Sector Accounting Standard Adoption and Quality of Financial Reporting in Higher Institutions in Rivers and Bayelsa States, Nigeria

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