Author(s): Richard Kwadzo Doe-Dartey, Jignesh Valand
The framework for preparing and presenting public sector financial accounts is called the International Public Sector Accounting Standard (IPSAS). The global implementation of the IPSAS is gaining traction. The government aimed to promote fiscal transparency and accountability in Ghana's public accounts, aiming to deliver improved financial information to assist decision-making across the public sector. There is a dearth of research on IPSAS implementation in Ghana. The purpose of the study is to examine the influence of IPSAS on financial reporting in Ghana and to explore the anticipated advantages as well as the problems that will be faced throughout the transition process. A thorough examination of the body of existing research, theoretical foundations, documents, and guidelines led to the study's methodological adoption, which mostly followed the qualitative research technique. The findings of this study which was fundamentally based on the thorough analysis of previous studies indicate that Ghana continues to trail behind in terms of IPSAS implementation. The adoption of IPSAS has the propensity to fundamentally alter the preparation and presentation of financial reporting in the public sector. Interested stakeholders in public management and administrative reforms and countries who are currently implementing IPSAS or have plans to do so, the paper offers useful insights on the transition to IPSAS.