International Public Sector Accounting Standards Board (IPSASB)

🌱 We’re breaking new ground today with the launch of the draft of our first sustainability reporting standard for the public sector: Climate-related Disclosures. Climate change affects everyone, transcending borders and economic boundaries. Rapid progress on climate change requires public sector action, and effective action requires the quality information only sustainability reporting standards specific to the sector’s needs can provide. We’re developing Climate-related Disclosures to meet that need. To all of our public sector stakeholders, including preparers of public sector climate-related and other sustainability reports, regional and national sustainability reporting standard setters, professional accountants, sustainability assurance providers, and interested members of the public including indigenous peoples: we need your feedback. ✅Your comments will help shape the final standard which will assist governments and other public sector organizations around the world in being accountable for their actions to address climate change. Learn more: https://lnkd.in/eSehPiKG

Tomorrow is the final day to let us know what you think about ED 90 which proposes the use of a public sector measurement basis in specific IPSAS to more relevantly and faithfully represent information in financial statements. https://lnkd.in/ebuh5xtV

Thanks to IFAC for including a recommendation to the G20 to enhance public sector transparency by supporting our developing of public sector sustainability reporting standards. These standards are a critical tool towards the collective action necessary for meaningful change.

New today: we've issued two final pronouncements related to mineral resources, IPSAS 50, Exploration for and Evaluation of Mineral Resources, and Stripping Costs in the Production Phase of a Surface Mine (Amendments to IPSAS 12). Minerals can account for a significant proportion of the economic resources in many jurisdictions, and the activities to explore for and extract these minerals require significant investment by mining entities. Up to now, public sector mining entities, reporting under IPSAS Standards, had lacked guidance to produce sufficient information on their investments to pursue the economic benefits of these mineral resources. Hear more from Christoph Braxton about the new standards and explore them here: https://lnkd.in/eGUHJrV5

Thanks to all who submitted abstracts. Our Academic Advisory Group has been hard at work selecting research abstracts to see developed into scholarly papers that will contribute to our standard setting. For the chosen applicants, we are looking forward to seeing your research findings at the 5th IPSASB Research Forum in June 2025 held in partnership with the Comparative International Governmental Accounting Research Network (CIGAR) (https://lnkd.in/eHYUkc8S).

ED 90 proposes to amend IPSAS Standards by adding current operational value across current value measurement disclosures. Submit your comments in by November 29, 2024: https://lnkd.in/ebuh5xtV

ICYMI: Watch the official launch event for our draft IPSASB SRS™ ED 1, Climate-related Disclosures Standard with Celine Chan, CPA, CA, IPSASB Principal, sharing her perspectives as the project leader along with special guests. The event includes remarks from Arturo Herrera, Global Director for Governance Global Practice, The World Bank Group, and an insightful discussion between Ian Carruthers, Chair, IPSASB, Sue Lloyd, Vice-Chair of the International Sustainability Standards Board (ISSB), and Lee White, Chief Executive Officer, IFAC moderated by Owen Mapley, Chief Executive Officer, CIPFA. We cover the proposals outlined in the draft standard, the importance of public sector leadership in climate reporting, and how the standard aligns with global sustainability efforts. https://lnkd.in/ewZKgCYW

The global search for volunteer members to join our Board in 2026 is underway. If you have strong knowledge of issues related to financial and sustainability reporting, standard-setting experience, direct experience with public financial reforms, or familiarity with the needs of financial statement users, please consider submitting an application by January 31, 2025. Candidates can have a wide range of relevant backgrounds, including: - Public sector standard setters - Preparers of accrual-based financial statements and/or public sector sustainability reports who may come from Ministries of Finance, Accountants Generals’ Departments, or other institutions - Users of general-purpose financial reports, such as parliamentarians, budget offices, and credit-rating agencies - Public sector external auditors - Candidates from jurisdictions that are transitioning to or have already implemented IPSAS Learn more: https://lnkd.in/ebrGyXnw

Are you a preparer of sustainability reporting or looking forward to adopting IPSASB sustainability reporting standards? Interested to share your experience with sustainability reporting in the public sector? Join us for the kick-off of the Sustainability Implementation Forum, a forum of preparers to provide feedback on implementation of the proposed IPSASB SRS ED 1, Climate-related Disclosures. Find out more and register here: https://lnkd.in/ejSCV4zy

There's still time to register -- Join Lee White online today at our launch event of IPSASB SRS ED 1, Climate-related Disclosures to learn more about the draft standard with Sue Lloyd, Owen Mapley, Ian Carruthers, Arturo Herrera, and Celine Chan, CPA, CA. https://lnkd.in/etPueaAa