Implementing IFRSs in the public sector: caveats from a case in the UK

This article assesses the implementation of International Financial Reporting Standards (IFRSs) in the United Kingdom public sector. Possible motivations for the move are suggested before presenting the findings of interviews with, and a survey of, key personnel. The primary issues discussed are the rationale, challenges and costs associated with implementing IFRSs. The article concludes that the policy appears to have been implemented against a backdrop of indeterminate benefits and to be a continuation of New Public Management-style reforms with their emphasis on public sector professionalization and the language of accountancy.