Harmonising European Public Sector Accounting Standards (EPSAS): Issues and Perspectives
Biondi, Yuri (2017), Harmonising European Public Sector Accounting Standards (EPSAS): Issues and Perspectives, Accounting, Economics and Law, 7, 2. 10.1515/ael-2017-0014
Type
Article accepté pour publication ou publiéDate
2017Journal name
Accounting, Economics and LawVolume
7Number
2Publication identifier
Metadata
Show full item recordAbstract (EN)
Accounting systems play a hidden but fundamental role as mode and instrument of representation, coordination and organisation for the public sector and its specific public action. Therefore, financial and accounting reforms transform, implement and reshape public policies as well as the working and very existence of public administration. Last March 2013, the European Commission started a relevant project with the intention to create harmonised “European Public Sector Accounting Standards” (EPSAS) and implement them in the Member States. Between 1995 and 2002, a similar project was already achieved for private sector accounting standards-setting, leading to adoption and implementation of International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board (IASB). The EPSAS project should decide if public sector accounting standards-setting shall follow a similar pattern to converge towards the International Public Sector Accounting Standards (IPSAS) that transplant the IFRS in the public sector. This choice may have fundamental implications for the European (Monetary) Union, since public sector accounting and public finances are fundamental elements of its institutional framework. This thematic issue aims to provide analyses and perspectives on this ongoing public sector accounting harmonisation process in Europe, addressing its governance and contents, as well as its consequences and implications for Europe’s economy and society.Subjects / Keywords
public sector accounting; public finances; fiscal compact; IPSAS, European UnionH11JEL
M48 - Government Policy and RegulationM41 - Accounting
H83 - Public Administration; Public Sector Accounting and Audits
H77 - Intergovernmental Relations; Federalism; Secession
H74 - State and Local Borrowing
H71 - State and Local Taxation, Subsidies, and Revenue
H70 - General
H63 - Debt; Debt Management; Sovereign Debt
H62 - Deficit; Surplus
H61 - Budget; Budget Systems
H60 - General
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