Implementation of international public sector accounting standards in various countries and evaluation of Turkey implementation

The New Public Reform (NPM), which began in the 1990s in the world, has put in place the leading economies into an accrual-based accounting system that provides more detailed information to users and managers from common government accounting systems and cash-based accounting systems. In this sense, states have more knowledge about their existing assets and liabilities and have become more proactive in making strategic decisions and planning. Similar to the International Financial Reporting Standards (IFRS), which emerged in the direction of private sector development in the sense of accounting, Governments are engaged in the creation and implementation of International Public Sector Accounting Standards (IPSAS) based on International Financial Reporting Standards in order to create a similar accounting system in the sense of comparability, transparency and accountability. In this study, published International Public Sector Accounting Standards (IPSAS) are examined and examples of implementation are given in the world. Taking into account that IPSAS are IFRS-based the differences between two standards has been analyzed. Parallel to the developments at international level, Turkey has taken the 5018 Public Financial Management and Control Law with the basics of accrual accounting. In the study, Law No. 5018 has been examined and in accordance with the standards published by the Board of the State Accounting Standards laid down in the related law, the compliance process of public institutions has been investigated in Turkey. As a result of the research there are certain differences between published IPSASs and IFRSs that some of these are the nature of public and private sector businesses and other part of the differences are based on the fact that IPSAS are IFRS-based over time they will be eliminated. Turkey has been late to publish government standards and also been late in implementation at the institutions according to developed countries, it is necessary to accelerate their work in this direction.