Valuation in Public Sector Agencies: Impact on Financial Reporting Through the Implementation of International Financial Standards: Focus on Canadian Workers Compensation Boards
Journal of Financial Management and Analysis, Vol. 22, No. 1, January - June 2009
Posted: 9 Oct 2009
Date Written: September 30, 2009
This study examines how the changes in International Financial Reporting Standards (IFRS) have affected the ability of Canadian Workers’ Compensation Boards to demonstrate accountability to its stakeholders through an examination of the impact of fair value accounting for financial instruments. This paper explores the public policy implications of these standards with respect to the ease of user understanding and comparability. It comments on how IFRS would have various impacts on the Basel II Accord. This study concludes that the adoption of IFRS by public sector enterprises would distort their financial positions and key performance indicators.
Keywords: IFRS, Fair value accounting, Key performance indicators
JEL Classification: F36, G15, G18
Suggested Citation: Suggested Citation