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January 11, 2016

Consultative Advisory Group Will Improve IPSASB Governance

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Posted by Svetlana Klimenko and Delphine Moretti[1]

The process of strengthening the governance and oversight of IPSASB was launched in 2014, and led to the creation of the Public Interest Committee…

As announced previously on this blog, a global consultation was conducted in early 2014 to gather the views of the public on the future directions for the governance and oversight of the International Public Sector Accounting Standards Board (IPSASB).

The results of this public consultation underscored the widespread interest in improving the governance of IPSASB, and led to the creation of the Public Interest Committee (PIC) to advise IPSASB in its standard setting activities. During 2015, the PIC provided recommendations on the terms of reference of the IPSASB; the arrangements for the nomination and appointment of IPSAB members; the procedures for the formulation of IPSASB’s strategy and work plan; and the development of international accounting standards.

The PIC supported the establishment of a Consultative Advisory Group…

The PIC welcomed a proposal by the International Federation of Accountants (IFAC) in 2015 to establish a Consultative Advisory Group (CAG) that would provide direct feedback from public and private sector institutions—especially those engaged in the preparation, audit, or evaluation of public sector financial statements—on IPSASB’s strategy, work program, and standard-setting activities. The PIC also recommended that the selection of members of the CAG be undertaken after a public call for nominations

…which led to the recent establishment of the CAG and publication of a Call for Nominations…

IPSASB announced recently the establishment of the CAG, and issued a call for nominations of representatives from organizations, or individuals, interested in serving as members of this Group.

In line with the recommendations of the PIC, the IPSASB is particularly interested in nominations of users of public sector financial reports, and representatives of governments and other public sector entities. Nominations are also encouraged from parliamentarians, public sector auditors, regulators, non-governmental organizations, and other regional and international organizations.

Information about the call for nominations is available on the IPSASB web site.

The call for nominations will remain open until February 19, 2016.

[1] Public Interest Committee Secretariat.

Note: The posts on the IMF PFM Blog should not be reported as representing the views of the IMF. The views expressed are those of the authors and do not necessarily represent those of the IMF or IMF policy.

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