According to media reports corruption in governments occur in all countries around the world, but corruption in developing countries is reportedly higher and more severe than it is in developed countries. The emergence of the International Public Sector Accounting Standards (IPSAS) has been established as one of the most significant moves in recent years to enhance public sector accountability. This study examined the relationship between announcement of adoption of IPSAS and perceived levels of corruption in developing and developed countries. The study found that levels of perceptions of corruption for developed countries that have announced IPSAS adoption do not differ significantly with the levels of perceived corruption for developed countries that have not announced IPSAS adoption; however, perceptions of corruption differ significantly between developing countries that have announced IPSAS adoption and developing countries that have not adopted IPSAS. Governments of developing countries may expect to improve their ratings on perceptions of corruption through the adoption and implementation of IPSAS.