Financial reporting standards for the public sector: New Zealand’s 21st-century experience


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:
Divisions: College of Business and Social Sciences > 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:
Uncontrolled Keywords: public sector financial reporting,transaction-neutral,public sector accounting,sector-neutral,standard-setting
Publication ISSN: 1467-9302
Full Text Link: http://www.scop ... tnerID=MN8TOARS
Related URLs: https://www.tan ... 62.2016.1133979 (Publisher URL)
PURE Output Type: Article
Published Date: 2016-02-03
Accepted Date: 2016-02-02
Authors: Cordery, Carolyn J. (ORCID Profile 0000-0001-9511-7671)
Simpkins, Kevin



Version: Accepted Version

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