Government Accounting System Reform and the Adoption of IPSAS in Iraq

Abstract

This research examines the needs of reforming the government accounting system in Iraq as a developing country through the adoption of an accrual accounting based on IPSAS. It tries to search the reasons and requirements to apply IPSAS, discover the challenges which may face the Iraqi public financial management; and discuss what the supported factors that help public management to adopt the accrual base based on IPSAS are. Based on that, the research generally aims to contribute in the development of the public sector accounting and evaluate comprehensively the usefulness, feasibility and abilities of adopting the IPSAS through accrual base in Iraq. Our study, mainly focused on the central government .The research uses qualitative methodology through a questionnaire sent to accountants in the finance ministry, auditors in Iraqi supreme audit board and lecturers in Iraqi universities, specialized in government accounting to get data about reasons, requirements,  challenges and supported factors of adopting the IPSAS to the government accounting in Iraq.The study strongly reveals the need to reform the government accounting system through the adoption of an accrual accounting based on IPSAS.

Keywords: Government Accounting Reform, IPSAS, Accrual Base, Iraq.