Harmonizing public sector accounting in Europe: thinking out of the box

Rossi, Francesca Manes; Cohen, Sandra; Caperchione, Eugenio; Brusca, Isabel

doi:10.1080/09540962.2016.1133976

Cited by 108 publications

(74 citation statements)

References 28 publications

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“…In countries such as Germany and France, corporate tax rates range from 25% to 40%, and the value of tax benefits is not so great. They are mainly used to stimulate the creation of new enterprises and stimulate investment [47]. The value of benefits in the taxation of profits is significant for most countries in quantitative terms.…”

Section: Discussionmentioning

confidence: 99%

Tax System of the Russian Federation: Current State and Steps towards Financial Sustainability

et al. 2019

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Achieving financial sustainability is the most important strategic task of the state in a turbulent global economic environment. The purpose of this study was to identify the patterns of development and peculiarities of the tax situation in Russia. The authors determined the most effective approaches for the formation of the tax system that would ensure the financial sustainability of the state in conditions of economic transition. This study examined the existing features and patterns of the formation of the Russian tax system. The ways and instruments to achieve financial stability were considered. As an example, it was decided to take into account the international practices of the most successful states in terms of tax (according to the Doing Business methodology)—namely, the USA, Ireland, France, Greece, Luxembourg, the Netherlands, Germany, Switzerland, the UK, Sweden and Norway. A list of conditions is proposed, the implementation of which might ensure the transformation of the Russian financial system in terms of sustainability. This article also demonstrates changes in the economic infrastructure of the Russian Federation and indicates possible scenarios for the development of the tax system. This study determines that the tax system is largely shaped by the information environment. Therefore, digitalization processes can serve as a catalyst for the achievement of financial sustainability by the state. The choice of tools for the internal reform of public finances is situational. However, strategic transformation (in terms of macro-level sustainability) can be achieved by performing a number of universal steps. The implementation of the latter creates not only a positive effect from the introduction of new approaches, but primarily minimizes the impact of existing negative phenomena and trends. The tax system of the Russian Federation can be optimized by consolidating sustainable development indicators in the legal acts. The latter is an important step towards achieving financial sustainability.

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Section: Discussionmentioning

confidence: 99%

Tax System of the Russian Federation: Current State and Steps towards Financial Sustainability

et al. 2019

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“…Despite the fact that the subject of harmonisation of public sector accounting and the interaction with macro-reporting has been widely researched, it seems that the arguments are still ongoing (e.g. Manes Rossi, Cohen, Caperchione, & Brusca, 2016). The papers in this Special Issue contribute to the debate by highlighting the challenges facing the process of the development of European standards, which may have policy relevant implications in order to obtain more transparent and comparable financial information across European countries.…”

Section: Editorialmentioning

confidence: 99%

‘The Challenging Task of Developing European Public Sector Accounting Standards’

Jorge

Caruana

Caperchione

2019

Accounting in Europe

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The European Commission has embarked on the project to develop harmonised public sector accounting standards, that will be applicable for all EU member states (EC, Eurostat, 2013). According to Eurostat, the EPSAS are a necessary tool for fiscal and budgetary integration in the EU, and are required for more rigorous, transparent and comparable reporting of financial information (ibid.). The ultimate objective is to have more reliable reporting by EU member states, regarding the debt and deficit levels as required by the Maastricht Treaty (EC, Eurostat, 2017). In order for the EPSAS to achieve the ambitious target of being viewed as building blocks that could bridge the gap between micro-and macro-reporting levels, the input of various disciplines is required.The EPSAS might be seen as a multi-disciplinary project, in which actors from different fields work together, each drawing on their disciplinary knowledge and methods, using a real synthesis of approaches. By their name, EPSAS would naturally involve the accountancy profession, i.e. the experts in the production and use of accounting information systems at micro-level. These would include auditors as well, for their role in ensuring that accounting systems and the ensuing financial reports are reliable. Since EPSAS are dealing with public financial management systems, the expertise of lawyers is also required, together with the practical knowledge of national budget-setters and policy makers. Given the intertwining of the micro-and macrosystems, the know-how of economists and statisticians cannot be referred to as an afterthought, but their disciplinary expertise needs to be taken into consideration at the outset. Such effort would be required so that there is conceptual harmonisation to the extent that the targets specified at both micro-and macro-levels use a common language.This context constitutes a breeding ground for arguments and discussions, especially since national governments do not seem to perceive their reporting systems as static, and are always seeking ways to improve and innovate them

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“…This has been considered a consequence of the accounting environment, legal system and traditions (Hopwood, 1990;Lu¨der, 1992;Otley, 1980). However, in the IPSAS or EPSAS dilemma, there are also alternative approaches supporting the coexistence of different financial reporting standards (Manes Rossi et al, 2016) that deserve further attention and possibly empirical studies to test their actual pros and cons. While the preparation of financial reporting based on IPSAS or EPSAS could be required to satisfy the need for harmonization, each country, in parallel, could be able to choose to keep its national reports and accounting standards as long as they were considered useful for policy shaping and decision-making.…”

Section: The Demand For International Harmonization and The Role Of Tmentioning

confidence: 99%

Introduction: The Gordian knot of public sector accounting and the role of the International Public Sector Accounting Standards

Rossi

Cohen

Caperchione

et al. 2016

International Review of Administrative Sciences

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Harmonizing public sector accounting in Europe: thinking out of the box

Cited by 108 publications

References 28 publications

Tax System of the Russian Federation: Current State and Steps towards Financial Sustainability

Tax System of the Russian Federation: Current State and Steps towards Financial Sustainability

‘The Challenging Task of Developing European Public Sector Accounting Standards’

Introduction: The Gordian knot of public sector accounting and the role of the International Public Sector Accounting Standards

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