Public Sector Accounting in New Zealand: An Update and Clarification

Hawker, David

doi:10.1111/j.1468-0408.1992.tb00136.x

Cited by 10 publications

(5 citation statements)

References 2 publications

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“…Auditing also helps public sector organizations achieve accountability and integrity, improve operations and instill confidence among stakeholders. The results of this paper are also in line with agency theory (Ross, 1973; Mitnick, 1973;Jensen and Meckling, 1995;Streim, 1994;Hay, 2001;Blume and Voigt, 2011;Simunic, 2014) and suggest that auditing can help reduce agency costs.…”

Section: Discussionsupporting

confidence: 84%

“…It also provides insights into the financial management of public health systems in developing countries during the ongoing coronavirus disease 2019 (COVID-19) pandemic. Finally, the SEM used in the study allows us to empirically test agency theory and contribute to its vast literature (Ross, 1973; Mitnick, 1973; Jensen and Meckling, 1995; Streim, 1994; Hay, 2001; Blume and Voigt, 2011; Simunic, 2014).…”

Section: Introductionmentioning

confidence: 99%

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Efficacy of public sector audits in the provision of quality healthcare in Ghana

Oppong

Fofack²,

Boakye-Yiadom

2021

JEAS

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PurposeThis study examines the efficacy of public sector audits in providing quality healthcare in Ghana. Specifically, to ensure whether there are proper and adequate controls in place to enable providers to offer necessary health services efficiently, effectively and equitably.Design/methodology/approachA structural equation modeling (SEM) is adopted to analyze the link between public sector audit and healthcare delivery through a survey of directors, accountants, auditors and managers in selected public healthcare institutions for a calculated sample size of 123 respondents.FindingsThe study reveals that internal audit, external audit and audit committee have a positive and significant effect on the effectiveness of public sector audits. In turn, the effectiveness of public sector audit has a positive and significant effect on the quality health services. Audit committee is found to have the largest effect on the effectiveness of public sector audits.Originality/valueThis paper extends the literature on the value of public sector audit by providing empirical evidence from a specific context: the public health sector of a developing country in democratic transition with a common law institutional framework. It also provides insights into the financial management of public health systems in developing countries during the ongoing coronavirus disease 2019 (COVID-19) pandemic.

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Section: Discussionsupporting

confidence: 84%

Section: Introductionmentioning

confidence: 99%

Efficacy of public sector audits in the provision of quality healthcare in Ghana

Oppong

Fofack²,

Boakye-Yiadom

2021

JEAS

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“…This perception has resulted in the appearance of plans, budgets, interim accounts, annual reports and related documents that, to varying degrees play important parts in the external reporting process associated with managerial accountability (Rutherford, 1983;Pendlebury & Jones, 1985;Glynn, 1987;Hay, 1992). Though most of these reporting process documents are alluded to in the present study, the primary focus is on the production and perceived impact of annual reports.…”

Section: Background To the Studymentioning

confidence: 93%

Perceptions and experiences of annual report preparers

1995

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Between 1986 and 1993, tertiary education institutions [TEIs] in New Zealand have transformed their annual reports from being uninformative, untimely and unobtainable documents, to ones that are well-presented, comprehensive and readily available in a timely fashion (Coy, Tower & Dixon, 1994). This paper reports a study of the events and experiences according to report preparers in bringing about this change, including the incentives and difficulties that they have been facing.The study uses data collected from 48 staff involved in report preparation at 15 of the 37 TEIs that are in New Zealand. These data are qualitative, and are analysed from a realist perspective mixing causal analysis and interpretive understanding (Silverman, 1985).The study suggests that the mandated changes to reporting are seen as one facet of several recent public sector reforms in New Zealand. Interviewees felt that the changes to reporting were driven externally by legislation, and internally by the stances taken by some chief executive officers and by the professional ardour of some accountants. Moreover, the Audit Office was seen as a prominent agent of change.The general reactions of preparers of reports to the reforms range from strong support to resentment and scepticism. A major concern voiced was the potential for data reported by TEIs to be used for political purposes. On the other hand, improved staff motivation was noted in many institutions as well as greater cost consciousness and awareness of student needs. However, these positive attributes were probably derived from the reforms in general, and not just from the changes to reporting.

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“…As such, it seems reasonable to expect agency conflicts within nonprofits to be similar to those that exist within for‐profit organisations (Gordon & Hamer, 1998). The role of financial statements helps reduce agency conflicts by reducing information asymmetry between principal and agent (Healy & Palepu, 2001) with voters, bureaucrats, elected officials, bonding agencies and grant making entities all being consumers of the municipal financial statements (Bogt, 2004; Bradbury & Scott, 2015; Frank & Gianakis, 2010; Giroux, 1989; Hay, 2001; Hyndman & Lapsley, 2016; Maher & Sohl, 2013). Guided by past work (Baber, 1983; Moe, 1984; Streim, 1994; Zimmerman, 1977), Figure 1 outlines the principal and agent relationships and their connection to the audited financial statements, providing each principal with the agent oversight they require to help reduce information asymmetry.…”

Section: Background Theoretical Framework and Hypothesesmentioning

confidence: 99%

Audit fee determinants in small municipalities: Further evidence from Connecticut small towns

2023

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Guided by a call for research on small entities using innovative methodologies, this study is the first to analyse small municipality audit fees on a per capita basis. The research utilises a complete dataset of all 92 Connecticut municipalities that meet the study criteria and does not rely on samples or survey results. The measure of per capita was utilised to account for differences between town populations allowing for a more accurate comparison of audit fees and audit fee determinants across municipalities of differing populations. Consistent with the premise that auditee characteristics are an important consideration in audit fees, we find that when examining audit fees on a per capita basis in the subset of small municipalities: (1) smaller towns pay considerably more for audit services than larger towns, (2) towns with an ethics committee oversight function and best practices financial reporting practices have lower per capita audit fees than those that do not and (3) audit firm size, audit firm tenure and existence of audit/finance committee oversight have no significant impact on per capita audit fees. The results of this study help fill a void in the audit literature by providing insights into audit fee determinants in small municipalities by considering the added feature of a per capita analysis. The authors also sought to provide additional information for consideration in the International Auditing and Assurance Standards Board (IAASB) efforts to streamline standards for auditing of less complex entities.

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Public Sector Accounting in New Zealand: An Update and Clarification

Cited by 10 publications

References 2 publications

Efficacy of public sector audits in the provision of quality healthcare in Ghana

Efficacy of public sector audits in the provision of quality healthcare in Ghana

Perceptions and experiences of annual report preparers

Audit fee determinants in small municipalities: Further evidence from Connecticut small towns

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