International Public Sector Accounting Standards: Conceptual and Institutional Issues,” in The Harmonization of Government Accounting and the Role of IPSAS, edited by Mariano D’Amore

In the current “global revolution in government accounting, ” International Public Sector Accounting Standards (IPSAS) are proposed for adoption by governments around the world. After describing the nature of IPSAS, the paper discusses conceptual issues concerning system capability and internal accountability, conceptual framework, emulation of business standards, accrual basis of accounting and consolidated financial statements. The institutional issues regarding the representation on the IPSAS board and the sole oversight by the International Federation of Accountants (IFAC) are also analyzes. Setting standards is a first step on the long road of fundamentally reforming government accounting practices around the world