Implementing IFRSs in the UK devolved administrations

Anthony Wall, Ciaran Connolly

Research output: Contribution to journalArticle

4 Citations (Scopus)

Abstract

Purpose – Utilising concepts drawn from the governmentality literature, the purpose of this paper isto examine the adoption of International Financial Reporting Standards (IFRSs) in the UK’s devolved administrations of Northern Ireland, Scotland and Wales in order to assess why they were adopted and how their introduction has been governed.Design/methodology/approach – This research applies a combination of three differentapproaches, namely: a content analysis; an anonymous online questionnaire; and semi-structuredinterviews.Findings – These include: the transition has had minimal impact upon policy setting and theinformation produced to aid budgeting and decision making; IFRSs are not entirely appropriate forthe public sector; the time, cost and effort involved outweighed the benefits; public sector accounting has become overly-complicated; and the transition is not perceived as part of a wider privatisation programme.Research limitations/implications – As this study focuses upon the three UK devolvedadministrations, the findings may not be applicable in a wider setting.Practical/implications – Public sector change must be adequately resourced, carefully planned,with appropriate systems, trained staff and interdisciplinary project teams; accounting change should be based on value for money; and a single, coherent financial regime for the way in which government uses budgets, presents estimates to Parliament and publishes its resource accounts should be implemented.Originality/value – This study highlights that accounting change is not just a technical issue and,while it can facilitate a more business-like environment and enhance accountability, all those affected by the changes may not have the requisite skills to fully utilise the (new) information available.Paper type - Research paper
LanguageEnglish
Pages198-225
JournalAccounting, Auditing and Accountability Journal
Volume29
Issue number2
DOIs
Publication statusAccepted/In press - 1 Mar 2015

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International Financial Reporting Standards
Accounting change
Public sector
Content analysis
Governmentality
Project teams
Budgeting
Accountability
Public sector accounting
Policy impact
Time costs
Scotland
Wales
Questionnaire
Value for money
Decision making
Parliament
Privatization
Resources
Northern Ireland

Keywords

  • Governmentality
  • New public management (NPM)
  • International Financial Reporting Standards (IFRSs)

Cite this

Wall, Anthony ; Connolly, Ciaran. / Implementing IFRSs in the UK devolved administrations. 2015 ; Vol. 29, No. 2. pp. 198-225.
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Implementing IFRSs in the UK devolved administrations. / Wall, Anthony; Connolly, Ciaran.

Vol. 29, No. 2, 01.03.2015, p. 198-225.

Research output: Contribution to journalArticle

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