- November 13, 2023
- Posted by: Julianne Vissie
- Category: Blog
The IPSASB is consulting on their Strategy and Workplan for 2024 to 2028. A previous article on IPSASB strategy consultation: Delivering global standards discussed one of the two proposed main activities – delivering global standards. This activity includes both financial and sustainability reporting standards. The second activity is to inspire implementation.
Inspiring implementation
| Promoting adoption and implementation
|
The IPSASB will continue to promote the IPSAS Standards for financial reporting and start to promote sustainability reporting standards.
Better accrual accounting and sustainability reporting are in the public interest as they enable transparency, accountability and provide better information for decision making. The IPSASB’s key actions in this area will be: · Raising awareness through staff Q&As and participating in outreach programs · Building alliances · Supporting jurisdictional initiatives |
| Advocating benefits of financial and sustainability reporting information
|
Financial reporting standards The IPSASB is of the view that maximising the use of accrual accounting information provides the foundation for strong public financial management (PFM). They plan to continue to work with other professional groups, bodies and sponsoring organisations to help increase the understanding of how accrual IPSAS can strengthen PFM. Sustainability reporting standards The IPSASB plans to foster new and maintain current relationships to broaden sustainability expertise, to advance the understanding of how Public Sector Sustainability Reporting Standards can support the needs of the present without compromising the needs of future generations. |
Provide your comment
The ASB published the consultation document as a concurrent ED and can be accessed on the ASB website.
The ASB has a policy of aligning its Standards of GRAP with IPSAS, where appropriate. The work of the IPSASB has a potentially significant impact on the ASB’s activities. Commenting on this ED provides our local stakeholders with an opportunity to influence the direction of the IPSASB’s future work.
Contact elizna@asb.co.za for more information.
Disclaimer
The article has been prepared by the Secretariat of the ASB for information purposes only. It has not been reviewed, approved, or otherwise acted on by the Board.
Leave a Reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.