Current Practices and Issues in the Accounting for Government Infrastructure Assets
Vol. 13, No. 1, 2023, pp. 1 – 15Individual and Organisational Attributes on Public Accountants’ Professional Scepticism: A Qualitative Examination
: Che Ruhana Isa, Haslida Abu Hasan, Zakiah Saleh,
Purpose: This paper aims to explore the current accounting practices and issues in accounting for infrastructure assets in Malaysian public sector organisations. Comparatively, this paper also provides an overview of current practices in other countries.
Design/Methodology/Approach: Data collection was through reviews of extant literature, accounting standards and guidelines by the Accountant General’s Department of Malaysia (AGD), including guidelines and government publications in other countries.
Practical Implications: The government’s spending for infrastructure assets represents a significant proportion of its budget. Therefore, accurate accounting treatments and reporting of the assets is pivotal. This paper aims to present an update to policy makers and practitioners on current pertinent accounting standards, issues and accounting practices at the international level as well as at the Malaysian federal government.
Originality/Value: Research on accounting for infrastructure assets is still limited. Findings from this research will add to the body of knowledge by highlighting the main issues and providing basis for further investigation.