The Challenges of the support systems in adoption of International Public Sector Accounting Standards (IPSAS) in Ghana
- March 12, 2022
- Posted by: RSIS
- Categories: Accounting, IJRISS
International Journal of Research and Innovation in Social Science (IJRISS) | Volume VI, Issue II, February 2022 | ISSN 2454–6186
Patrick Ninson
Department of Accounting, University of Ghana
Abstract: Purpose- This paper critically analyses and examine the key pre-requisite support systems necessary for smooth adoption and implementation of a financial reforms. This paper seeks to identify the key support structures in adoption and implementation of International Public Sector Accounting Standards (IPSAS) and to ascertain factors that affect each support systems in its processes.
Design/methodology/approach- The research employs quantitative method as a descriptive study in gathering survey data with close- ended items from respondents in order to test the hypothesis. The five (5) point Likert-Scale questionnaire is used as a research tool instrument. The alternate hypothesis is tested using Single Way Anova together with other statistical tools.
Findings- The results indicate a strong positive conclusion for the existence for support systems for smooth transition processes. The model also indicates strong positive correlation with the support functions. The results show that all the dependent variables have a positive coefficient and are significantly related to IPSAS adoption.
Research Limitations/Implications- The paper cannot be used as generalization since every territorial zone operates differently.
Practical implication: For certain accounting reforms such as IPSAS to be effective in a less structured economy, there is the need for functional support systems.
Originality: The paper suggests a conceptual framework for IPSAS adoption and implementation process. This finding helps to better understand some transitional challenges and ways to expedite them.
Keywords – IPSAS, accounting reforms, International Public Sector Accounting Standards, support system, standards, public reform
I. INTRODUCTION
Countries including Ghana are required to adopt accounting standards by pressure emanating from African Unions, Ecowas, IMF, Commonwealth, World Bank etc (Judge et. al, 2010; Guerreiro et al, 2014; Nitri, 2018). They provided further indications on institutional structures such as African Unions, Ecowas, Monetary Fund etc are the reason why institutions arena serves as an interactive part of our society’s accounting locales.
