IPSASB consults on future public sector accounting work

The International Public Sector Accounting Standards Board released its proposed consultation paper for its strategy and work program over the next five years.

The IPSASB 2024-2028 Strategy and Work Program offers an opportunity for constituents to comment on the board’s proposed strategic objectives, and the two main activities to deliver on them in the public sector accounting space.

The IPSASB’s work over the past five years has aimed to address some of the main gaps in its literature, and that now allows for a rebalancing of the board’s financial reporting work program towards maintenance of its international standards for public sector accounting.

With the new strategy and work program, the board is proposing to put in place a post-implementation review process, as well as to establish an application panel to support not only its existing users, but also a much larger group of stakeholders who are expected to be using its standards by 2030.

“Having achieved so much during the 2019-2023 strategy period, despite the major challenges we have all faced, the IPSASB has reached an inflection point,” said IPSASB chair Ian Carruthers in a statement Wednesday. “This exciting new phase of the IPSASB’s work will build on the hard work of the board to implement the current strategy, as well as the sustained input from all our stakeholders.”

Constituents should submit their views here by Feb. 15, 2024.