Definition
International Public Sector Accounting Standards are international accounting standards for application by public sector entities to prepare their general purpose financial reports.
Introduction
This chapter describes International Public Sector Accounting Standards (IPSAS) and the International Public Sector Accounting Standards Board (IPSASB). This description includes the process applied to develop IPSAS, other pronouncements developed by the IPSASB, the IPSASB’s history, and its governance arrangements. This chapter also describes how IPSAS apply to public sector entities and the extent of IPSAS adoption.
International Public Sector Accounting Standards
IPSAS are financial reporting standards for use by public sector entities. IPSAS are developed by the IPSASB. They are the public sector equivalent of International Financial Reporting Standards (IFRS), which apply to private sector companies and are...
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References
European Commission (2013) Towards implementing harmonized public sector standards in Member States. The suitability of IPSAS for the member states, SWD(2013) 57 Final
Eurostat (2012) Overview and comparison of public accounting and auditing practices in the 27 EU Member States
IFAC (2000a) Press release: new international public sector accounting standards released for comment, 16 July 2000
IFAC (2000b) Public Sector Committee standards project, project background, strategy and funding requirements, Oct 2000
IFAC (2004a) The Public Sector Committee’s standards program – background and update, Feb 2004, Paul Sutcliffe, PSC Technical Director
IFAC (2004b) Report of the externally chaired review panel on the Governance, role and organisation of the international federation of accountants Public Sector Committee, June, 2004
IFAC (2004c) Charting a new course to the future – 2003 annual report IFAC 2004
IFAC (2007) IPSASs Adoption by Governments, available from http://www.ifac.org/system/files/publications/files/IPSAS_Adoption_Governments.pdf
IFAC (2015) Handbook of international public sector accounting pronouncements, 2015 edition
IPSASB website at http://www.ipsasb.org/has all IPSASB pronouncements, current and recent projects, IPSASB meeting papers, and meeting minutes from November 2002 onwards
Jensen GR, Smith RA (2013) History of the IPSASB: growing influence – reduced control?, paper for European Government and Public Administration Workshop, Public Sector Management and IPSAS, Salerno, May 2013
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OECD (2015) The Future Governance of the International Public Sector Accounting Standards Board (IPSASB) IPSASB Governance Review Group – Recommendations, March 2013
PricewaterhouseCoopers (2013) PWC Global survey on accounting and reporting by Central Governments
Sutcliffe P (2006) International Public Sector Accounting Standards (IPSASs) 1996 to 2006 – progress and status. J Financ Manage Public Serv 6(1):11–28
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Jensen, G.R. (2016). International Public Sector Accounting Standards (IPSAS). In: Farazmand, A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_2280-1
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DOI: https://doi.org/10.1007/978-3-319-31816-5_2280-1
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Publisher Name: Springer, Cham
Online ISBN: 978-3-319-31816-5
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