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Publication - Professor Sheila Ellwood

    Old wine in new bottles: IFRS adoption in NHS Foundation Trusts


    Ellwood, S & Garcia-Lacalle, J, 2012, ‘Old wine in new bottles: IFRS adoption in NHS Foundation Trusts’. Public Money and Management, vol 32., pp. 335-342


    UK public sector organisations, including NHS Foundation trusts, changes to IFRS for their 2009/10 financial statements. Treasury aims were 'to bring benefits in consistency and comparability between financial reports in the global economy and to follow private sector best practice'. Our comparative analysis of Foundation Trusts' financial statements under IFRS shows worse financial results and lower surpluses for the year, higher values of fixed (non current) assets and more indebtedness than under UK GAAP. Implications of the new accounting regime on comparability and transparency of NHS organisations are discussed.

    Full details in the University publications repository