Public Financial Management Reforms: The Role of Ipsas in Latin-America

Summary During the last 30 years, many public administration reforms promoted by New Public Management have been undertaken. These reforms have spread to Latin‐American countries and include changes in governmental accounting systems, where the implementation of International Public Sector Accountin...

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Bibliographic Details
Published in:Public administration and development 2016-02, Vol.36 (1), p.51-64
Main Authors: Brusca, Isabel, Gómez-villegas, Mauricio, Montesinos, Vicente
Format: Article
Language:English
Subjects:
Accounting
accounting harmonisation
adaptation to IPSASs
Decision making
Financial management
financial management reforms
governmental accounting reforms
Implementation
IPSASs
Modernization
New public management
Public administration
Public finance
Public sector
Reforms
Stimulus
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Summary:Summary During the last 30 years, many public administration reforms promoted by New Public Management have been undertaken. These reforms have spread to Latin‐American countries and include changes in governmental accounting systems, where the implementation of International Public Sector Accounting Standards (IPSASs) has been a stimulus for modernization. This article aims to clarify the situation of IPSASs implementation in the Latin‐American context as well as the stimuli for and effects of their implementation. The analysis shows that there is an emerging international trend to adopt IPSASs in Latin‐American countries although at the same time, there are evident obstacles to achieving reform goals. In Colombia, reforms are still underway, and the usefulness of IPSASs to improve decision‐making at an organisational level cannot be evaluated. Meanwhile, in Peru, the modernization is more rhetorical than real, and many efforts remain to be made for the effective implementation. Copyright © 2016 John Wiley & Sons, Ltd.
ISSN:0271-2075
1099-162X
DOI:10.1002/pad.1747