Romanian public institutions financial statements on the way of harmonization with IPSAS

Article Type: Abstracts From: International Journal of Accounting and Information Management, Volume 19, Issue 2

The article’s aim is to analyze the specific issue of financial reporting under the IPSAS, in order to determine the extent to which the national accounting system has absorbed the foresights of the IPSAS concerning the financial statements. To achieve this objective, we explored the particularities for the Romanian regulations in correspondence to IPSAS, as a theoretical description, and the empirical evidence for the similarities and dissimilarities between the considered sets of regulations. The results of research show a high degree of correspondence between two analyzed sets of regulations, concerning the financial statements, but further developments are needed to be done, in line to characterize the whole Romanian regulations harmony with IPSAS, formal and material.

Keywords: Public sector accounting, IPSAS, Romanian regulation

Adriana Tiron TudorBabeş Bolyai University, Cluj Napoca, Romania