While we have witnessed much success in the development and use of performance measures,adversarial journalism is one reason government managers do not publicly report their performance. The Governmental Accounting Standards Board (GASB) argues that communicating both financial and nonfinancial...

Why do firms lobby? This paper exploits the unanticipated sequestration of federal budget accounts in March 2013 that reduced the availability of government funds disbursed through procurement contracts to shed light on this question. Following this event, firms with little or no prior exposure...

This article provides a theoretical view on European Public Sector Accounting Standards (EPSAS), focusing on overarching accounting principles and models, as well as their consequences on the working and the very existence of public service activity. Our analysis applies to illustrative cases...

This study focuses on practicing accountants in Saudi Arabia to examine their readiness to adopt the mandatory International Financial Reporting Standards (IFRS). More specifically, it investigates the International Accounting Standard for Inventories, an indicator for accountants’...

Throughout this study the term “expectation gap” refers to the difference between (1) what the public and financial statement users believe the responsibilities of auditors to be, and (2) what auditors believe their responsibilities are, as in McEnroe and Martens, 2001 (hereafter MM 2001)....

The management of a country's finances is crucial for economic stability and growth. The Finance Minister plays a pivotal role in shaping fiscal policies, mobilizing revenue, and ensuring effective resource allocation. This commentary argues that the Minister should focus on key areas for...

The purpose of this paper was to identify the information users assumed by the financiers of local governments in India and to empirically clarify the determinants of these users. The Ministry of Finance requires local governments in India to prepare public accounting information based on...

Background: Kaizen is a very important continuous improvement technique; however, measuring kaizen results/benefits have not been clearly and comprehensively addressed by the literature. Objectives: This paper aims to propose a kaizen measuring system by integrating a Balanced Scorecard (BSC) and...

A theoretical analysis is provided of the accounting framework and rules applied to the annual accounts of the European Communities (EC) since 2004. This accounting system draws upon International Public Sector Accounting Standards (IPSAS) and is based on accrual accounting, under a dual...

Prior for-profit literature provides evidence that an independent audit of the financial reports is associated with a corporation’s improved investment efficiency and financial performance. In contrast, this study investigates the relationship between independent audits and financial...