The International Public Sector Accounting Standards Board (IPSASB) has published a Consultation Document on its proposed Strategy and Work Plan for 2019-2023. This Consultation provides an opportunity for constituents to comment on the IPSASB’s strategic objective, supporting themes and work plan priorities for the period 2019-2023.

According to IPSASB Chair, Ian Carruthers, the IPSASB will continue to focus on developing standards addressing public sector specific financial reporting issues. However, the proposed strategy also emphasises the importance of the IPSASB working with others to ensure that the great benefits of IPSAS implementation are more widely understood and that the power of accrual reporting in supporting public financial management reforms is fully recognised.

As such, CAPA encourages all professional accountancy organisations (PAOs) and its members whom are involved in the public sector to review and respond to the Consultation Document. “It is important that PAOs and its members provide views to consultations like this because individual practitioners in the public sector and the organisations they work for are the ones close to any issues arising from implementing the standards and recommendations from the IPSASB.

PAOs and relevant individuals can access the IFAC or IPSASB website for the full Consultation Document, as well as a summary At-a-Glance document, and details on how to submit a response. The consultation is open for comments until 15 June 2018 at: https://www.ifac.org/news-events/2018-02/ipsasb-consults-2019-2023-strategy-work-plan