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Public Financial Management Reforms: The Role of Ipsas in Latin‐America

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  • Isabel Brusca
  • Mauricio Gómez‐villegas
  • Vicente Montesinos

Abstract

During the last 30 years, many public administration reforms promoted by New Public Management have been undertaken. These reforms have spread to Latin‐American countries and include changes in governmental accounting systems, where the implementation of International Public Sector Accounting Standards (IPSASs) has been a stimulus for modernization. This article aims to clarify the situation of IPSASs implementation in the Latin‐American context as well as the stimuli for and effects of their implementation. The analysis shows that there is an emerging international trend to adopt IPSASs in Latin‐American countries although at the same time, there are evident obstacles to achieving reform goals. In Colombia, reforms are still underway, and the usefulness of IPSASs to improve decision‐making at an organisational level cannot be evaluated. Meanwhile, in Peru, the modernization is more rhetorical than real, and many efforts remain to be made for the effective implementation. Copyright © 2016 John Wiley & Sons, Ltd.

Suggested Citation

  • Isabel Brusca & Mauricio Gómez‐villegas & Vicente Montesinos, 2016. "Public Financial Management Reforms: The Role of Ipsas in Latin‐America," Public Administration & Development, Blackwell Publishing, vol. 36(1), pages 51-64, February.
    • Handle: RePEc:wly:padxxx:v:36:y:2016:i:1:p:51-64
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    Cited by:

    1. Castañeda, Víctor Mauricio, 2018. "El premio de implementar las reformas contables en el sector público promovidas por los organismos multilaterales || The Prize for Implementing Accounting Reforms in the Public Sector Promoted by Mult," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 26(1), pages 74-103, Diciembre.
    2. Michal Svoboda, 2016. "Modernisation of Public Sector Financial Reporting Systems in Europe - Challenges and Milestones," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2016(4), pages 5-16.
    3. Deac Claudiu Florin, 2020. "The New Public Governance Assumed Through Quality Reports In The Public Sector," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 133-138, February.

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