Ministry of Economic Affairs and Finance, Tehran, Iran
Abstract
The main objective of the International Public Sector Accounting Standards Board (IPSASB) is to promote global public sector financial reporting by developing an accrual basis for governments and other public sector entities around the world. Understanding the views of the world's leading accounting bodies on the implementation of international public sector accounting standards is important. Therefore, this article presents the general issues as well as the costs and benefits of implementing this standard in Australia according to the statements of the Australian Accounting Standards Board (AASB). The AASB’s focus is accrual accounting, used in Australia for many years in all sectors. What is important is IPSAS compliance with International Financial Reporting Standards (IFRS); Although each has a separate conceptual framework. users of public sector financial statements indicate that the AASB’s current NFP entity standard-setting framework based on IFRS Standards is not providing sufficiently tailored information, such that public sector financial reporting does not meet the objective of financial reporting in the AASB’s conceptual framework. However, it seems that the use of IPSAS in Australia will be beneficial when its economic costs do not outweigh its benefits.
Rafieaian,M. (2021). Examining the approach of the Australian Accounting Standards Board in implementing International Public Sector Accounting Standards. Public Sector Accounting and Budgeting, 1(2), 64-71.
MLA
Rafieaian,M. . "Examining the approach of the Australian Accounting Standards Board in implementing International Public Sector Accounting Standards", Public Sector Accounting and Budgeting, 1, 2, 2021, 64-71.
HARVARD
Rafieaian M. (2021). 'Examining the approach of the Australian Accounting Standards Board in implementing International Public Sector Accounting Standards', Public Sector Accounting and Budgeting, 1(2), pp. 64-71.
CHICAGO
M. Rafieaian, "Examining the approach of the Australian Accounting Standards Board in implementing International Public Sector Accounting Standards," Public Sector Accounting and Budgeting, 1 2 (2021): 64-71,
VANCOUVER
Rafieaian M. Examining the approach of the Australian Accounting Standards Board in implementing International Public Sector Accounting Standards. PSAB, 2021; 1(2): 64-71.
