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

Following a productive September meeting where we approved several publications, our final meeting of 2024 focused on new initiatives that will demand more of our resources in 2025 and beyond. Thank you to our hosts Ministry of Finance, Saudi Arabia for providing such a welcoming experience and an impactful meeting to close out 2024. Read the latest from our projects in the December eNews. https://lnkd.in/eiXBAAss

At its December board meeting, the IPSASB approved Amendments to IPSAS Standards, regarding specific IFRIC Interpretations. Read more about these amendments from IPSASB principal Eileen Zhou, CPA, CA

The IPSASB successfully held its final meeting of 2024 in Riyadh, Saudi Arabia. We would like to thank our welcoming hosts His Excellency Abdulaziz Alfuraih and the Ministry of Finance, Saudi Arabia, for their support and hospitality over the week of the meeting, and for sharing their journey on implementing IPSAS Standards.

Finishing our final Board meeting in 2024 tomorrow in Riyadh, we'll cover maintenance activities and hear from Ross Smith about progress made on our work program. https://lnkd.in/eKX3GJxQ

Sustainability will be a major focus of our discussions tomorrow, plus we'll take a look at what's coming up in our strategy for 2025 and beyond. Join us at 6:00 UTC or save to watch later: https://lnkd.in/ecHeYPyN

The 2024 Edition of the Handbook of International Public Sector Accounting Pronouncements is out now. It contains the complete suite of IPSAS Standards published as of January 31, 2024 plus the 2023 Conceptual Framework updates. https://lnkd.in/emMY_kBG

To help public sector entities more easily adopt IPSAS Standards, ED 91 proposes to clarify and restructure existing guidance and add new non-authoritative guidance to IPSAS 33, First-time Adoption of Accrual Basis IPSAS. Share your comments with us by Friday, December 13: https://lnkd.in/giQyfqcY

Our meeting continues tomorrow with discussions on our project related to the presentation of financial statements. We'll also hear a presentation from the World Bank on the Reimagining Public Finance initiative. Join us at 6:00 UTC or save to watch later: https://lnkd.in/efEP4pnG

The first day of our Board Meeting in Riyadh, Saudia Arabia begins tomorrow. We'll look to approve a final pronouncement related to IFRIC alignment, plus we'll discuss strengthening the alignment of IPSAS with GSFM 2014 and hear an update on Saudi Arabia's journey implementing IPSAS. Join us at 6:00 UTC or save to watch later: https://lnkd.in/eqN4Jpmj