article · JOURNAL OF ACCOUNTING AND FINANCIAL MANAGEMENT
Many countries seek to improve public sector financial reporting by adopting international standards that foster transparency and global comparability. A structured implementation of International Public Sector Accounting Standard 3, which focuses on accounting policies, changes in accounting estimates, and errors, directly strengthens the disclosure of accounting information. Synthesising evidence from scholarly literature, international accounting standards, and government documents published between 2015 and 2024 demonstrates that adhering to these reporting guidelines enhances the consistency, reliability, and openness of public sector financial statements. These outcomes align with prior findings from diverse jurisdictions including Libya, Nigeria, Indonesia, Morocco, and Greece, confirming that such standards reinforce overall governance and accountability. Ensuring that public financial officers receive regular, targeted training remains critical for the accurate execution of these rules and the achievement of international reporting expectations.
Clear and reliable financial reporting is essential for maintaining public trust in governmental institutions. When public sector bodies transparently report their accounting methods, estimate changes, and error corrections, citizens and oversight bodies can better evaluate how public funds are managed. This alignment with international norms improves governance and supports more accountable public administration.
The insights apply directly to public sector governance, offering guidance for government ministries, audit institutions, and standard setters. The abstract focuses on conceptual analysis and policy recommendations rather than a market product, placing potential application in public financial management reform and professional training programmes. Beyond informing capacity building for financial officers, the abstract does not indicate a commercial application pathway.
AI-generated from the published abstract. Always read the original work before citing.
The need to enhance financial reporting in the public sector has led many countries to adopt international standards such as IPSAS to promote transparency and global comparability. This conceptual paper evaluated how the adoption of IPSAS 3 influences accounting information disclosure in public sector entities. Employing a qualitative research approach, the study conducts a theoretical analysis based on secondary data drawn from scholarly literature, accounting standards, and government documents. Rather than collecting new empirical data, the study synthesizes existing research to develop insights into IPSAS 3's impact. The methodology involved a systematic literature review and thematic analysis, focusing on publications from 2015 to 2024. Key databases such as Scopus, Google Scholar, JSTOR, and ScienceDirect were searched using terms like “IPSAS 3” and “public sector financial reporting.” Through critical examination, the paper identified recurring themes and conceptual linkages between IPSAS 3 components: disclosures of accounting policies, changes in estimates, error corrections and improved accounting information disclosure. The analysis revealed that structured implementation of IPSAS 3 enhances the transparency, consistency, and reliability of financial statements. Findings are consistent with prior research conducted in countries such as Libya, Nigeria, Indonesia, Morocco, and Greece, confirming that IPSAS adoption supports better governance and accountability in the public sector. In conclusion, IPSAS 3 significantly strengthens financial disclosure practices, and it is recommended that public sector financial officers be regularly trained to ensure accurate and effective application of the standard. This contributes to improved financial oversight and alignment with international reporting expectations.
This page summarises published work. The authoritative version sits with the publisher.
DOI: 10.56201/jafm.vol.11.no5.2025.pg205.218
Is something wrong with this record? Report it or request removal.
Discussion
Have you built on this work, tried to replicate it, or seen it applied in practice? Share what you know. Verified researchers and MARATTO™ domain experts can open a discussion, and any member can reply. Contributions are reviewed before they appear.
No discussion yet. Open the first thread.
New to MARATTO™? Create a free account.
