“…budget preparation and reporting of budgetary performance still remains came to happen: Portugal is under external financial support since 2011 and Spain and Italy are struggling with serious economic conditions (high levels of public debt and deficits) that have led to austerity policies as those implemented in Portugal under the agreement with the creditors. cash or modified cash-based (Anessi-Pessina & Steccolini, 2007;Anessi-Pessina, Nasi, & Steccolini, 2008;Bastida & Benito, 2007;Benito & Bastida, 2009;Lüder & Jones, 2003;Sterck, 2007;Sterck, Conings, & Bouckaert, 2006). Only very few countries, like Australia, New Zealand and United Kingdom, have introduced full accrual basis in both subsystems (Martí, 2006;Montesinos & Brusca, 2009;Sterck et al, 2006), making them to be considered the leaders for the convergence between the two reporting systems, GA and NA (Broadbent & Guthrie, 2008).…”