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Publication date: 15 October 2015

P. W. Senarath Yapa and Sarath Ukwatte

The purpose of this paper is to analyse the reasons why Sri Lanka adopted International Public Sector Accounting Standards (IPSAS) recently. Many less developed countries (LDCs…

Abstract

Purpose

The purpose of this paper is to analyse the reasons why Sri Lanka adopted International Public Sector Accounting Standards (IPSAS) recently. Many less developed countries (LDCs) have introduced IPSAS during the recent past. However, little research has been conducted to study the New Public Financial Management and accrual accounting and their impact on LDCs.

Methodology/approach

Using a qualitative approach, the methods of this paper consist of interviews, a documentary review and participatory observation in the Ministry of Finance and Planning (MOFP) and Auditor General’s Department of Sri Lanka, and present a critical interpretation supported by the perspective of globalisation.

Findings

The findings of the research indicate that the public sector reforms and the transition from cash accounting to accrual accounting in the public sector have been strongly affected by the global pressures imposed by international agencies such as International Public Sector Accounting Standards Board (IPSASB) and the World Bank (WB). Empirical evidence shows the dysfunctional impact of globalisation in the public sector accounting standards as there are major structural issues yet to resolve. There are increasing doubts over whether the change to accrual accounting is worth the costs and the additional risks involved.

Research limitations

The results of the interviews are based on the knowledge and past experiences of interviewees. What is generalisable is an understanding of the processes and mechanisms that relate to the way the public sector accounting functions.

Originality/value

This paper adds new literature on public sector accounting in LDCs, which recognises the nexus and interests of international agencies and practice of public sector accounting.

Details

The Public Sector Accounting, Accountability and Auditing in Emerging Economies
Type: Book
ISBN: 978-1-78441-662-1

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Article
Publication date: 17 January 2020

Chitra Sriyani De Silva Lokuwaduge and Keshara De Silva

The purpose of this paper is to extend the New Public Financial Management concept and the contingency model approach to an analysis of the determinants of the accrual-based…

725

Abstract

Purpose

The purpose of this paper is to extend the New Public Financial Management concept and the contingency model approach to an analysis of the determinants of the accrual-based International Public Sector Accounting Standards (IPSAS) adoption process as a financial management reform in Sri Lanka, a developing country in Asia.

Design/methodology/approach

Based on the prior literature, this paper develops a framework to highlight the importance of accrual-based reforms in public sector accounting policies to enable better transparency and accountability. It shows the extent to which Sri Lankan public sector institutions have adopted IPSAS-based accounting standards and the limitations of adopting these standards in a developing country, using documentary analysis.

Findings

In developing countries, the public sector faces practical problems when adopting reforms due to limited institutional capacity, high political involvement and bureaucracy in decision making. This paper concludes that significant policy changes towards the adoption of international accounting standards have gained momentum over the last decade in Sri Lanka while the much larger economies in Asia are still studying this process. However, the prevailing political uncertainty in Sri Lanka has negatively impacted the implementation process.

Originality/value

Relatively little is known about the diffusion of, and the difficulties in, implementing accrual-based IPSAS in the Asian region. This paper is an attempt to fill this gap by exploring the Sri Lankan experience. This could be applied by other developing countries in Asia, including the high-growth nations, for policy adoption and accounting harmonisation.

Details

International Journal of Public Sector Management, vol. 33 no. 2/3
Type: Research Article
ISSN: 0951-3558

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Article
Publication date: 16 January 2007

P.W. Senarath Yapa and Zhen Ping Hao

With the introduction of open door policy in 1978 and recent entrance to the World Trade Organisation (WTO), there seems to be a continuous growth of world business between China…

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Abstract

Purpose

With the introduction of open door policy in 1978 and recent entrance to the World Trade Organisation (WTO), there seems to be a continuous growth of world business between China and the rest of the world. The purpose of this article is to make a comparison between Chinese professionalisation of accounting with other Western countries focusing on three professional themes: profession and the state, entry qualification to the profession and the relationship between higher education and the profession.

Design/methodology/approach

This study uses a qualitative method and it is based on using unstructured interviews with Chinese Institute of Certified Public Accountants (CICPA) (Beijing office), CPA Australia (Beijing Representative Office) and National Accounting Institute (NAI) (Beijing office) – all conducted in March 2005. Further information about the current accounting development in China is collected through secondary sources.

Findings

The results show that current accounting professionalisation project in China has been derailed mainly due to lack of coordination among accounting educational institutions. It seems that the CICPA purposely exert control over the supply of accountants by limiting the membership only to those who complete its own examinations mainly to maintain the “local status” of its members.

Originality/value

The professional accounting project should be closely linked with China's entrance to the WTO and the World Bank initiatives on accounting development. The results indicate that the accounting profession in China has so far been failed to take appropriate measures to align the professional accounting development with that of parallel professions as found in Western countries.

Details

Asian Review of Accounting, vol. 15 no. 1
Type: Research Article
ISSN: 1321-7348

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Article
Publication date: 1 August 1999

P.W Senarath Yapa

This paper analyses the professional accounting environment in Brunei Darussalam with particular reference to the organisation of practitioners. In terms of the wealth of the…

2402

Abstract

This paper analyses the professional accounting environment in Brunei Darussalam with particular reference to the organisation of practitioners. In terms of the wealth of the country, its stable economic, social and political structure, the formal regulatory structures in place and the ongoing British influence, one might expect to find a vigorous accountancy profession in place, actively pursuing a collective mobility project. However, such an expectation would be misplaced. Drawing upon the functionalist, interactionist and critical theories of the professions, as synthesised by Willmott, this paper explains the lack of a powerful accounting profession in Brunei and speculates as to whether such a profession might emerge, in particular one capable of adequately gauging and safeguarding the public interest. The paper argues the case for the negative given the prevailing market, institutional and power structures.

Details

Accounting, Auditing & Accountability Journal, vol. 12 no. 3
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 25 July 2008

Steven Dellaportas, P.W. Senarath Yapa and Sivakaran Sivanantham

The purpose of this paper is to examine and evaluate the internationalisation of Australian auditing standards by analysing the submissions to the Auditing and Assurance Standards…

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Abstract

Purpose

The purpose of this paper is to examine and evaluate the internationalisation of Australian auditing standards by analysing the submissions to the Auditing and Assurance Standards Board's (AUASB) strategic directions paper (SDP) and comparing the proposed and approved strategic directions frameworks of the AUASB.

Design/methodology/approach

A content analysis of the submissions to the SDP is conducted to identify the extent of support, and arguments for and against the proposed strategic directions. This study attempts to find a link, if any, between the proposed strategic directions, the views expressed by the stakeholders, and the final set of strategic directions issued by Australia's Financial Reporting Council.

Findings

Overall, the final set of strategic directions released in April 2005 are consistent with the views expressed in the submissions, which support minimal divergence from International Standards on Auditing (ISAs) and using the ISAs as the base for developing Australian auditing standards. Major changes from the SDP include a requirement for the AUASB to undertake research and monitor auditing standards issued by national standard setters. However, the AUASB is no longer obliged to contribute to the international standard arena and need only have regard to any program initiated by the International Auditing and Assurance Standards Board.

Research limitations/implications

The findings of this study provide an insight into the future of Australia's role in the international arena and increase awareness of stakeholders' views on the international harmonisation of auditing standards.

Originality/value

While there have been several studies examining the international harmonisation of accounting standards, there is comparatively little research on the international harmonisation of auditing standards. This paper attempts to address this void, in part, and contribute to the literature on the convergence of auditing standards with ISAs.

Details

Managerial Auditing Journal, vol. 23 no. 7
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 27 June 2019

Wai Fong Chua, Maria Cadiz Dyball and Helen Yee

The purpose of this paper is twofold: first, to assess the impact of the 1999 Special Issue on Professionalization in Asia in the Accounting, Auditing and Accountability Journal

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Abstract

Purpose

The purpose of this paper is twofold: first, to assess the impact of the 1999 Special Issue on Professionalization in Asia in the Accounting, Auditing and Accountability Journal (AAAJ); and second, more generally to review research on this topic post-1999.

Design/methodology/approach

The paper starts with a discussion of the research articles of the Special Issue. It then identifies research that has cited papers in the Special Issue and which focusses on professionalization in Asia to identify relevant subsequent research. In addition, a literature search is conducted to locate post-1999 work that has not cited papers from the Special Issue but has investigated the same topic area. Analyzing both sets of work enables an integrated review of the field and aids the identification of future research opportunities. The study covers published research articles and books on professionalization projects in Asia from 1999 to 2018. In this paper, reference to Asia focusses on East Asia (including countries such as China and Japan), South Asia (including countries such as Bangladesh, India and Sri Lanka), and South East Asia (including countries such as Brunei, Cambodia, Indonesia, Malaysia, the Philippines and Vietnam). Given the elapsed time of near 20 years, there has been sufficient time for research to be published. Therefore, the review focusses on published output only and does not discuss unpublished theses, conference proceedings nor working papers.

Findings

First, the Special Issue of AAAJ in 1999 generally adopted a critical lens and studied professionalization as projects of market closure and collective mobility. The corporatist framework of Puxty et al. (1987) provided a useful framing to analyze the influence of states, markets and communities on professionalization. Second, the Special Issue has helped to spur interest in understanding professionalization in the region. Post-1999, there are studies of countries not covered in the Special Issue. Third, the themes identified in the Special Issue continue to be relevant and are examined in post-1999 work: the active role of the state, the legacies of colonization, the activities of transnational accounting bodies; and to a lesser degree, the influence of transnational accounting firms. Finally, future research could usefully focus on: the distinctive and more expansive role of Asian state agencies; the conduct of deeper comparative research; the role of accounting firms in the region; and the impact of transnational agencies such as the International Federation of Accountants and the World Bank.

Research limitations/implications

There are three limitations. First, the review of literature omits unpublished research such as PhD theses and working papers. Second, it focusses only on research published in English. As a result, some work may be excluded. Third, it assesses the contribution of a single issue (i.e. the 1999 AAAJ Special Issue) and does not discuss work that preceded 1999.

Originality/value

This paper is aimed at assessing the impact of the 1999 Special Issue but also presents a wide-ranging analytical review of published research on accounting professionalization in Asia since 1999. The paper identifies several areas for future research and proposes a modified model of state-market-community-profession relations. In particular, the paper emphasizes the large and distinctive roles of Asian state agencies and the activities of transnational actors (both those within the profession as well as those that are external).

Details

Accounting, Auditing & Accountability Journal, vol. 32 no. 8
Type: Research Article
ISSN: 0951-3574

Keywords

Available. Content available
Book part
Publication date: 15 October 2015

Abstract

Details

The Public Sector Accounting, Accountability and Auditing in Emerging Economies
Type: Book
ISBN: 978-1-78441-662-1

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Article
Publication date: 17 February 2025

Hiep-Hung Pham, Thanh-Thao Thi Phan, Oanh Pham, Trung Tien Nguyen, Van-An Le Nguyen, Minh-Trang Do and Anh Tuan Nguyen

This study aims to investigate the trend of research on universities and accountability (UAA) in Southeast Asian (SEA) countries.

3

Abstract

Purpose

This study aims to investigate the trend of research on universities and accountability (UAA) in Southeast Asian (SEA) countries.

Design/methodology/approach

A total of 115 journal articles, conference papers, books and book chapters were obtained from the Scopus database spanning the years 1996–2023. These documents were subsequently analyzed using bibliometric methods.

Findings

The majority of UAA in SEA documents were published between 2007 and 2023 (106 documents, 92.19%). Scholars from both SEA countries and outside the region, particularly Australia, co-authored UAA in SEA documents. While scholars from Vietnam contributed the highest number of UAA in SEA publications (30 documents), scholars from Australia received the highest number of citations (878 citations). Collaboration between Vietnam and Australia emerged as the most productive partnership in conducting studies on UAA in SEA. Additionally, UAA in SEA documents were published not only in education-related outlets but also in other sectors, particularly in public policy. Furthermore, studies on UAA in different countries exhibited both similar and dissimilar interest keywords.

Originality/value

This study represents the first bibliometric analysis focusing on UAA in SEA literature. The insights and implications derived from this study are valuable for future researchers, university leaders and policymakers.

Details

International Journal of Comparative Education and Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2396-7404

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Publication date: 15 October 2015

Abstract

Details

The Public Sector Accounting, Accountability and Auditing in Emerging Economies
Type: Book
ISBN: 978-1-78441-662-1

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Article
Publication date: 27 July 2021

Prem W. Senarath Yapa

The purpose of this paper to systematically review and critique research on professional accounting development published in English during the last two-and-a-half decades. This…

1034

Abstract

Purpose

The purpose of this paper to systematically review and critique research on professional accounting development published in English during the last two-and-a-half decades. This paper focusses on developing countries (DCs) and suggests a future research agenda. In recent decades, many DCs have undergone reforms in the professionalisation of accounting (PA).

Design/methodology/approach

Extant research articles are selected from major accounting journals between 1995 and 2020 for the review. A conceptual analysis of the selected literature is presented to evaluate the focus and scope of existing work.

Findings

Previous empirical research on DCs has focused on the state and political ideology, religion and Sharia law, racial/class discrimination, colonialism and closure (e.g. the monopolisation of accounting work). Also, a complex set of globalisation, political, economic, and social contexts. In particular, a strong tradition of British accounting associations providing accounting qualifications in DCs is noted. Future research should aim to examine such issues as the politics of decolonisation, domination, neoliberalism, competition from Western professional associations, accounting in state-owned organisations, government accounting reforms, and social and environmental accounting issues.

Research limitations/implications

This paper covers only PA research in high-ranked English language accounting journals and chapters of a monograph. Accounting research published in other languages and lower-ranked journals could be imperative sources as well but not included in this study.

Originality/value

While PA has been explored in a variety of locations and from different perspectives in Western countries, a review in DCs was lacking.

Details

Accounting, Auditing & Accountability Journal, vol. 35 no. 2
Type: Research Article
ISSN: 0951-3574

Keywords

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