The global search for volunteer members to serve on the International Public Sector Accounting Standards Board (IPSASB) is underway. The IPSASB is an independent standard-setting body that works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®), IPSASB Sustainability Reporting Standards™ (IPSASB SRS™), and other high-quality reporting guidance for use by governments and other public sector entities.
The global search for volunteer members to serve on the International Public Sector Accounting Standards Board (IPSASB) is underway. The IPSASB is an independent standard-setting body that works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®), IPSASB Sustainability Reporting Standards™ (IPSASB SRS™), and other high-quality reporting guidance for use by governments and other public sector entities.
The Nominating Committee is seeking nominations from 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
Candidates should have relevant experience, potentially including a strong knowledge of issues related to financial and sustainability reporting, reporting standard-setting experience, direct experience with public financial reforms, and / or familiarity with the needs of financial statement users. Excellent English communication skills are required.
The initial term of service for these volunteers will be for three years, commencing on January 1, 2026, with the potential to renew for another three-year term.
All stakeholders, including from national, state, and local governments, national standard setters, IFAC member organizations, the Forum of Firms and their members from public accounting firms, other organizations, and members of the general public, are encouraged to nominate candidates or apply.
Nominations from all regions of the world are encouraged, with a particular emphasis on qualified candidates from Africa and Latin America (both Spanish and Portuguese-speaking countries) regions. Nominations of female candidates are strongly encouraged.
“IPSASB members have the unique opportunity to shape the future of public sector reporting and connect with colleagues from around the globe," said Ian Carruthers, IPSASB Chair. "As the IPSASB enters a new phase with an increased focus on the maintenance and application of the IPSAS suite of standards, along with the development of sustainability reporting standards, I strongly encourage jurisdictions that are using IPSAS, or actively transitioning to IPSAS, to nominate candidates.”
The deadline for submitting applications is January 31, 2025. Please see the Call for Nominations for more details and information on how to submit an application.
About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®), IPSASB Sustainability Reporting Standards™ (IPSASB SRS™) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and IPSASB SRS and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.
Late yesterday, the International Organization of Securities Commissions (IOSCO), the international body of securities regulators, announced its support for the IAASB’s International Standard on Sustainability Assurance (ISSA) 5000. ISSA 5000 is a new global standard for sustainability assurance developed through a robust, collaborative due process.
In its statement, IOSCO highlights how ISSA 5000 fulfills key IOSCO recommendations to establish a comprehensive global assurance framework for sustainability-related corporate reporting. Critically, ISSA 5000 also requires practitioners to follow a strong ethical framework, a vital component of IOSCO’s recommendations. The International Ethics Standards Board for Accountants’ new sustainability-related standards, set for approval later this year, will provide practitioners with the ethics framework needed and meet IOSCO’s recommendation.
With global momentum building for mandatory sustainability reporting, the IAASB notes IOSCO’s encouragement for jurisdictions worldwide to adopt or incorporate ISSA 5000 to enhance confidence and comparability in sustainability disclosures. The IAASB is fully prepared to support jurisdictions in their adoption and implementation efforts. The IAASB will be releasing a series of implementation materials to support ISSA 5000 use in January.
Appendix A in IPSAS 12, Inventories, provides interpretive guidance on accounting for waste removal costs that are incurred in surface mining activities during the production phase of the mine.
