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Title: Impact of IPSAS adoption on transparency and accountability in managing public funds in developing countries: Evidence from Liberia
Authors: Atuilik, Williams Abayaawien
Salia, Hussein
Keywords: Accountability
international public sector accounting standards (IPSAS)
Public funds
Issue Date: 2019
Abstract: International Public Sector Accounting Standards (IPSAS) has become one of the popular tools implemented by governments to ensure greater transparency and accountability globally. This research assesses the impact of IPSAS adoption on transparency and accountability in the use of public funds in Liberia. A survey design using five-point Likert scale questionnaire was employed for collecting the data. Questionnaires were administered to accountants, auditors (private and state-owned), government departments and related public sector bodies within the Montserrado County of Liberia. The valid questionnaires were then analysed using descriptive statistics. The hypotheses were formulated and tested by means of analysis of variance (ANOVA) at a 5% significant level with the aid of Microsoft Excel 2013. The study finds that IPSAS adoption increases the level of transparency and accountability in the use of government funds. It further establishes that revenue leakage and inadequate disclosure of public expenditure impedes government commitment to ensure a transparent and accountable management of public funds in the country. Hence, the paper recommends that governments in developing counties should hasten in their transition to the accrual basis IPSAS.
Description: 100p-110p:ill
Appears in Collections:Department of Accounting & Finance

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