Global Journal of Economic and Finance Research

The implementation of International Public Sector Accounting Standards (IPSAS) has garnered significant attention in recent years due to its potential to enhance the quality of financial reporting within public sector organizations. As governments worldwide strive for greater transparency, accountability, and efficient use of public resources, the adoption of IPSAS has emerged as a pivotal step in achieving these objectives. Despite ongoing efforts to facilitate IPSAS adoption in Ghana, limited research exists on how the implementation of these standards has directly influenced the quality of financial reporting within specific ministries. This study aims to fill this gap by investigating the impact of IPSAS implementation on the quality of financial reporting in selected ministries in Ghana. This study adopts a quantitative research approach, as it is best suited for evaluating the causal relationships between IPSAS adoption and improvements in financial reporting quality. This study follows a positivist research philosophy, which is based on the principle that reality is objective and can be observed and measured through empirical means. In the context of this study, purposive sampling was utilized to select a sample size of 366. The study examined the effect of International Public Sector Accounting Standards (IPSAS) on transparency and accountability in financial reporting. The findings indicate a significant and positive relationship between IPSAS adoption and both transparency and accountability in financial reporting. Based on the findings, the study recommends that governments should ensure complete compliance with IPSAS to maximize its benefits on financial transparency and accountability, public sector financial officers should undergo continuous training on IPSAS implementation and reporting standards and finally, government agencies should enhance audit and enforcement mechanisms to monitor IPSAS compliance.

IPSAS Adoption, Transparency of Financial Reporting, Accountability of Financial Reporting

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