Do I need to plaster over plasterboard in bathroom

Hi I am really strapped for cash at the moment after renovating my entire house and I was wondering if I would get away with just using joint cement and pvaing over new plasterboards in my bathroom rather than having the room plastered or tiled all over?
My main concern was water getting through to the boards but shouldn't the pva stop that? I am planning to stick some tiles as splashback around the bath and sink. There is no shower.
Regards,
TK
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If you can afford some lining paper and tin of clear varnish, then hang the paper and coat it a couple of times with the varnish. It gives a good enough water proofing coating and doesn't cost that much.
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