An Investigation in Use of IPSAS 1 Standard for Performance Evaluation in Government Universities: A Case Study of Kufa University, Iraq
Ghsun M. Yasser *
Al-Furat Al-Awsat Technical University, Iraq.
Amal Abdulhussain Kuhait
Al-Furat Al-Awsat Technical University, Iraq.
Mohammed Fadhil Neamah
Al-Furat Al-Awsat Technical University, Iraq.
*Author to whom correspondence should be addressed.
Abstract
When preparing financial reports in government entities, they are always in the traditional format that lacks transparency without highlighting what international bodies are exposed to. Therefore, this paper sheds light on the IPSAS1 standard and how to benefit from it in preparing financial reports, ultimately contributing to enabling users to evaluate performance by applying financial indicators. The research aims to demonstrate the importance of implementing the IPSAS1 standard. The population was taken from the university of Kufa. The sample size was taken from 22 colleges in various and diverse disciplines of the university. The secondary data was taken to evaluate the performance.
In government entities, evaluating their performance contributes to making decisions characterized by effectiveness and efficiency. For this purpose, a case study approach was used at the University of Kufa as the research sample, limited to the period from 2020 to 2021. The results obtained indicate the possibility of applying the IPSAS standard (financial data presentation), providing more comprehensive, transparent, and credible information. It can be said that applying indicators gives an idea of the management's ability to rationalize resource utilization towards not harming its cash resources and employing them optimally.
Keywords: International Public Sector Accounting Standard (IPSAS1), effectiveness indicator, efficiency indicator