INTERNATIONAL PUBLIC ACCOUNTING STANDARDS AS SOFT LAW IN FISCAL REGULATION: THE LEGAL TRANSPOSITION OF IPSAS 23 INTO VIETNAM’S STATE BUDGET REVENUE FRAMEWORK

Abstract

International Public Sector Accounting Standards (IPSAS) have increasingly influenced domestic fiscal regulation, particularly in countries undertaking public financial management reforms. Among these standards, IPSAS 23 on revenue from non-exchange transactions plays a central role in shaping the legal and accounting treatment of taxes, fees, charges, fines, and compulsory transfers—core components of state budget revenue. This article examines IPSAS 23 from a public law and fiscal policy perspective, focusing on its legal transposition into Vietnam’s state budget revenue framework through the promulgation of national public sector accounting standards (VPSAS). Using doctrinal legal analysis and normative comparison, the study analyses key legal concepts underpinning IPSAS 23, including statutory authority, enforceable claims, present obligations, and the principle of non-reciprocity, and evaluates their compatibility with Vietnamese tax and budgetary law. The findings indicate that IPSAS 23 is largely consistent with the legal nature of non-exchange revenues under Vietnamese public law, while also revealing areas where clearer legislative and regulatory guidance is required to ensure legal certainty and coherent application. The article argues that IPSAS 23 functions as a soft law instrument that complements domestic fiscal regulation and offers policy-oriented recommendations to strengthen the lawful integration of international accounting standards into national public finance systems.