International Public Sector Accounting Standards (IPSAS) Adoption And Accounting Education In Ghana

Abstract

The Institute of Chartered Accountants (ICA) Ghana and the Ministry of Finance announced Ghana's decision to transition to IPSAS in 201. This decision created a need to assess how the change would affect accounting education in Ghana, particularly how higher education institutions in the country would integrate IPSAS into their curricula.

This study aims to examine whether university accounting curricula are adequate in preparing students with IPSAS skills for the development of high-level labor in the context of national needs and in fostering their independence and usefulness as members of society.

The study specifically attempts to: Assess the appropriateness, institutional preparedness, and readiness of higher education establishments in Ghana to incorporate IPSAS into the accounting curriculum.

Identify the elements that influence the capacity to endorse curriculum review that incorporate IPSAS into the courses offered by Ghanaian universities. Examine how outside professional and academic accounting associations, including ICA Ghana, influenced Ghana's decision to adopt IPSAS for accounting education.

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 suggest that additional planning and evaluation are required to implement IPSAS in Ghana with effective and efficient curricular reform. Additionally, The foundation of any effective reform is assessing academic institutions' ability to adopt curriculum changes. This study found five key areas that IPSAS reform planners and implementers should take into account. These consist of: 1) procedures and policies; 2) personnel; 3) instructional materials; and 4) the nature of the educational establishment.

The results of the study also show that academic accountants in Ghana are not satisfied with the quality of services currently offered by professional and academic accounting bodies outside of Ghana.