Financial reporting standards for the public sector: New Zealand's twenty first century experience

Cordery, Carolyn J. and Simpkins, Kevin (2016). Financial reporting standards for the public sector: New Zealand's twenty first century experience. Public Money and Management, 36 (3), pp. 209-218.

Abstract

New Zealand was seen as world-leading when public sector financial reports were prepared using sector-neutral accounting standards from 1995 onwards. The decision in 2002 to adopt IFRS was disruptive, effecting new understandings of ‘sector-neutral’, and the standard-setter's approach was unsuccessful in meeting public sector users’ needs. The development of a new strategy finalized in 2012 has created a multi-standards framework, including adapted IPSASB standards applicable from 1 July 2014. While neutrality is still prized, it is within a framework of meeting users’ needs. This paper traces the influences expediting these changes.

Publication DOI: https://doi.org/10.1080/09540962.2016.1133979
Divisions: Aston Business School > Accounting
Additional Information: © 2016 Informa UK Limited, publishing as Taylor & Francis. This is an Accepted Manuscript of an article published by Taylor & Francis in Public Money and Management , available online: http://www.tandfonline.com/10.1080/09540962.2016.1133979.
Uncontrolled Keywords: Public sector accounting; ,transaction-neutral,sector-neutral; ,standard-setting;
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Related URLs: https://www.tan ... 62.2016.1133979 (Publisher URL)
Published Date: 2016-02-03
Authors: Cordery, Carolyn J. ( 0000-0001-9511-7671)
Simpkins, Kevin

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