New Zealand was seen as world-leading when public sector financial reports were prepared using sector-neutral accounting standards from 1995 onwards. The decision in 2002 to adopt IFRS was disruptive, effecting new understandings of ‘sector- neutral’, and the standard-setter’s approach was unsuccessful in meeting public sector users’ needs. The development of a new strategy finalized in 2012 has created a multi- standards framework, including adapted IPSASB standards applicable from 1 July 2014. While neutrality is still prized, it is within a framework of meeting users’ needs. This paper traces the influences expediting these changes.
Bibliographical note© 2016 Informa UK Limited, publishing as Taylor & Francis. This is an Accepted Manuscript of an article published by Taylor & Francis in Public Money and Management , available online: http://www.tandfonline.com/10.1080/09540962.2016.1133979.
- public sector financial reporting
- public sector accounting