Valuation in the public sector. Reference factor in a credible and fair administration (original) (raw)

Transylvanian Review of Administrative Sciences

Abstract

Public administration reform aims the transformation of public institutions in business entities in which the principles that govern it are very close to the sphere of private entities. The public valuation is an accepted and implemented concept in public administration as a condition for ensuring complete, accurate and transparent images on resources and their use. The present research determines through an empirical approach the regulation convergence of valuation in the public sector and presents its determinant factors and effects. The referentials subject to comparative analysis are International Valuation Standards (IVS), the latest two editions, and International Public Sector Accounting Standards (IPSAS). The findings argue the achievement of accounting and valuation standard setters’ objective, IPSASB and IVSC, regarding convergence of valuation concepts and tools, in its latest edition, 2011, however indicating certain differences regarding guidance extent and the referenc...

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