Reviewing the Implementation of International Public Sector Accounting Standards in Bangladesh: An Analytical Examination

Acounting

This research aims to analyze the steps the Bangladeshi government took to fulfil its 2006–07 financial year pledge to adopt cash-based International Public Sector Accounting Standards (IPSAS) and reform public sector accounting (PSA). There is a big difference between what has been promised and what has really happened, even though several developing nations, including Bangladesh, have stated their intentions to embrace IPSAS. Consequently, this study compares and contrasts the present practices and reform efforts in Bangladesh's PSA with the standards of the IPSAS, which are based on cash. Using document analysis, a qualitative research method, this study finds that, contrary to the principles of cash-based IPSAS, Bangladesh is still using a modified cash accounting system. To meet with the IPSAS cash basis criteria, which include full statements and disclosures on assets, liabilities, receivables, payables, and a comparison of actual and anticipated figures, Bangladesh's present PSA processes do not appropriately disclose or emphasize these issues.. Efforts at change are also shown to be inconsistent in the research. This study casts doubt on the idea that bureaucracy promotes the adoption of accounting standards, which runs counter to the conclusions of conventional accounting research. The findings contradict traditional assumptions in accounting research and have implications for Bangladesh's standard-setting authority. The research recommends that the local standard-setting authority investigate the reasons for the ongoing non-compliance, despite a pledge made a decade earlier.

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