Transitioning to International Public Sector Accounting Standards (IPSAS) in Emerging Market Countri

College of Management and Human Potential
Virtual Symposium
October 27-28, 2022

Presenter:
Dr. Roger Mayer

Session Description:
Countries that present financial information using cash-based accounting do not correctly measure revenue, assets, and liabilities. Thus, many emerging market countries are strengthening public financial management (PFM) by adopting accrual-based International Public Sector Accounting Standards (IPSAS). My program evaluation study aimed to develop a strategic roadmap for implementing IPSAS. Data were collected through interviews and focus group discussions during site visits and Zoom meetings with stakeholders from emerging market countries. Emergent themes included formulating an accounting system, developing a governance structure, and gaining political support. A key recommendation is to embed the IPSAS transition with strategies to create operational efficiencies. Countries that develop strategies to comply with IPSAS will increase the credibility and reliability of financial information and increase donor and funding institution confidence.