Evidence on the costs of changes in financial reporting frameworks in the public sector
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Date
1/09/2019
Open Access Location
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Taylor and Francis Group
Rights
Abstract
This paper examines the impact of changes in reporting frameworks on New Zealand public sector audit costs in terms of both audit fees and effort. Audit costs increased with the adoption of both International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) reporting frameworks. The costs of auditing across various financial reporting frameworks in the public sector is shown to be significantly influenced by auditors’ specialization.
Description
Keywords
Audit fees, audit hours, IPSAS, New Zealand, public sector
Citation
PUBLIC MONEY & MANAGEMENT, 2021, 41 (5), pp. 368 - 375