Orientations for sustainability development accounting in the public Sector: an approach from IPSAS 1, 22, 24, 33, 42, 47, 48, and 50

Abstract

Sustainable development is becoming a central orientation in public sector governance, linked to the implementation of the Sustainable Development Goals (SDGs), climate change response, population aging, income inequality, and resource depletion. In this context, public sector accounting and financial reporting systems must not only reflect the current financial position but also provide information for assessing fiscal sustainability, social equity, and long-term natural capital preservation. Based on the International Public Sector Accounting Standards (IPSAS) framework, this article analyzes a specific group of standards - including IPSAS 1, 22, 24, 33, 42, 47, 48, and 50 - under the framework of the three pillars of sustainable development: social, environmental, and institutional-fiscal sustainability. The paper clarifies the theoretical basis for transforming the "economic" pillar in the classic sustainability model into an "institutional-fiscal sustainability" pillar suitable for the public finance context. Furthermore, it demonstrates how these specific IPSAS standards contribute to shaping sustainability-oriented accounting. Finally, the article proposes implications for the refinement of Vietnamese Public Sector Accounting Standards (VPSAS) toward a sustainable development orientation.