Politics of financial reporting and the consequences for the public sector

Ryan, Christine M., Guthrie, James, & Day, Ron (2007) Politics of financial reporting and the consequences for the public sector. Abacus, 43(4), pp. 474-487.

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This article examines the political processes surrounding public sector accounting standard setting, in particular, the Australian decision to adopt sector-neutral International Financial Reporting Standards (IFRS). It contends that the history of private and public sector involvement in the accounting standard setting process to date, and recourse to regulatory theory, assist in understanding these contemporary developments. The article reveals that private sector interests have dominated accounting standard setters at all important stages of standard setting in Australia. It concludes by arguing that, given this continued neglect by standard setters, if public sector financial reporting standards are to remain relevant to the public sector, then it may be necessary for public sector regulators to set their own standards.

Impact and interest:

15 citations in Scopus
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8 citations in Web of Science®

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ID Code: 11111
Item Type: Journal Article
Refereed: Yes
Additional URLs:
Keywords: Financial reporting, IFRS, Regulation, Sector, neutral, Standard setting, Theory
DOI: 10.1111/j.1467-6281.2007.00243.x
ISSN: 0001-3072
Subjects: Australian and New Zealand Standard Research Classification > STUDIES IN HUMAN SOCIETY (160000) > POLICY AND ADMINISTRATION (160500) > Public Policy (160510)
Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Accounting Auditing and Accountability not elsewhere classified (150199)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Copyright 2007 University of Sydney
Deposited On: 07 Dec 2007 00:00
Last Modified: 29 Feb 2012 13:32

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