New development: IPSAS-lite—Some reflections and a call for research

Abstract

IMPACT While public sector entities range in size, influence and complexity, few countries write financial reporting standards specifically to accommodate the particular user needs of smaller or less complex entities. In addition to reducing the benefits to users, this is likely to impose greater costs on preparers. The author argues that the International Public Sector Accounting Standards Board (IPSASB) should address this problem by implementing its proposal for ‘IPSAS-lite’. Some structural decisions that IPSASB will need to make are outlined.