Financial support from the global community essential to create the necessary quality standards
ACCA is pleased to financially support the International Public Sector Accounting Standards Board’s (IPSASB) proposed development of a public sector specific sustainability reporting framework.
‘ACCA’s contribution provides welcome support for our initiative to develop urgently-needed public sector specific sustainability reporting standards,’ said Ian Carruthers, IPSASB Chair.
‘Despite strong stakeholder support for our proposals, our expertise in standard setting alone cannot take us over the finishing line. Financial support from the global community is essential if we are to equip governments with the quality standards necessary to report on their critical contributions to addressing the global climate emergency and other sustainability issues.’
Helen Brand, chief executive, ACCA said: ‘We are pleased to be the initial funders of the IPSASB's critical work to develop international sustainability reporting guidance that is fit for the public sector. The world's sustainability aspirations, including net zero and inclusive growth, will not be met without concerted government action and a robust reporting framework.
'ACCA believes that the IPSASB has the right international networks and due process to complete this sustainability work programme. Alongside the investment, ACCA will be working closely with IFAC, the IPSASB and our other public sector partners to advance the field of sustainability reporting for the public sector.’
The IPSASB announced last week that it is moving into a research and scoping phase for three potential initial public sector specific sustainability reporting projects and has called upon the global community for its help in securing the resources needed to begin guidance development.
The IPSASB is continuing to look for financial or other support for the development of global public sector specific sustainability reporting guidance. Please contact Ross Smith, IPSASB Program and Technical Director (firstname.lastname@example.org) or James Gunn, Managing Director, Professional Standards (email@example.com).
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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®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. 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 firstname.lastname@example.org.
About the Public Interest Committee
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.