The Impact of international public sector accounting standards (IPSAS) on financial reporting in public sector. A Case of Marondera municipality
- Author
- Simango, Florence
- Title
- The Impact of international public sector accounting standards (IPSAS) on financial reporting in public sector. A Case of Marondera municipality
- Abstract
- The purpose of this study was to assess the impact of international public sector accounting standards (IPSAS) on financial reporting in public sector, using a case of Marondera Municipality. The research was based on the following objectives; to ascertain the factors affecting the implementation and adoption of IPSAS in Marondera Municipality, to determine the influence of IPSAS on financial reporting transparency and accountability in Marondera Municipality, and to investigate the influence of IPSAS adoption to relevance, comparability and reliability of financial statements in Marondera Municipality. A descriptive research design in the form of a case study was used and this involved the usage of a self-administered questionnaire and interview to collect primary data. The study comprised of a study sample of 28 employees at Marondera Municipality which was selected using a purposive sampling technique. The research also concluded that that the implementation of IPSAS in public sector reporting will result in quality reporting. The study results showed that the adoption of IPSAS in public sector reporting is being affected by implementation costs, the level of available technology and the training and skills required to adopt IPSAS. Moreover, the findings showed that the adoption of IPSAS in public sector will improve transparency and accountability of financial statements, relevance, comparability and reliability of financial statements but will not curb corruption in public sectors. The study found out that some African countries have completed the adoption process and the other countries are still in progress of adopting IPSAS in public sector reporting. The researcher recommended the IPSASB to keep on supporting public sectors with financial assistant so as to mitigate the implementation challenges, improved communication and there have to be an increased number in training programs for all stakeholders to improve the use of IPSAS in public sectors. The study concluded that there's need to undertake the only International Accounting Standard in public zone reporting as the researcher located out that it is miles prompted that the advantages will outweigh the fees of enforcing IPSAS in public sector reporting. The study recommends that the public sectors to engage in seminars, training programs for all the stakeholders.
- Date
- June 2021
- Publisher
- BUSE
- Keywords
- IPSAS,
- Public sector accounting,
- Supervisor
- Mr. Masinire,
- Item sets
- Department of Accountancy
