Evidence on the costs of changes in financial reporting frameworks in the public sector

Nives Botica Redmayne, Fawzi Laswad and Dimu Ehalaiye

Public Money & Management, 2021, vol. 41, issue 5, 368-375

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.

Date: 2021
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DOI: 10.1080/09540962.2019.1679482

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