Financial reporting standards for the public sector: New Zealand’s 21st-century experience

Carolyn J. Cordery, Kevin Simpkins

Research output: Contribution to journalArticlepeer-review


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.
Original languageEnglish
Pages (from-to)209-218
Number of pages10
JournalPublic Money and Management
Issue number3
Publication statusPublished - 3 Feb 2016

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:


  • public sector financial reporting
  • transaction-neutral
  • public sector accounting
  • sector-neutral
  • standard-setting


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