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Al Jinan الجنان

Abstract

Reform of the Lebanese Public Accounting System in the Context of the International Public Sector Accounting Standards (IPSASs) This study addresses the increasing challenges that the Lebanese public accounting system is facing, in light of globalization, in shifting from a cash basis to an accrual basis system, as per the International Public Sector Accounting Standards (IPSASs). Through addressing the peculiarities of the Lebanese public accounting system, the study concludes that the conversion from cash basis to accrual basis system will help boost transparency and accountability. Yet, some essential conditions are required to successfully achieve this, including: shifting from the traditional model of Public Management to the result-oriented New Public Management (NPM), acquiring political advocacy, commitment of chief executive officers in public institutions to reform – aside to professional and academic support, and development of the prevalent financial management information system. Based on these findings, the study proposes gradually implementing the International Public Sector Accounting Standards (IPSASs), through two main steps. First, aiming to stabilize the current cash basis system concurrently with institutionalizing the public accounting system. Second, fully converting to an accrual basis system.

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