Consultation on IPSASB Strategy and Work Programme 2024-2028

The International Public Sector Accounting Standards Board (IPSASB) is consulting on its strategy and work programme for 2024–2028. The IPSASB’s strategy and work programme affect the XRB’s work programme for developing PBE Standards for Tier 1 and Tier 2 PBEs, which are largely based on IPSAS. The XRB is yet to decide whether and if so, how, the IPSASB’s sustainability reporting standards would inform sustainability reporting guidance in New Zealand.


Your feedback is important

We encourage you to read the Consultation Paper and to share your comments with us.

The IPSASB’s financial reporting work programme affects future developments relating to PBE Standards for Tier 1 and Tier 2 PBEs, so it is important that we receive comments from preparers and users of PBE financial statements.

The proposals

Financial reporting standards

The IPSASB issued several major new standards in the past five years. For the 2024–2028 period, the IPSASB proposes to shift its focus towards the maintenance of the existing IPSAS suite – including addressing application challenges relating to the existing standards.

The IPSASB proposes to put in place a post-implementation review process for existing IPSAS, and to establish an Application Panel that would discuss IPSAS application challenges identified by stakeholders. Let us know what you think about these proposals.

The IPSASB has several ongoing financial reporting projects on its work plan, and is proposing not to add new projects at this time. Once resources become available during 2024–2028, the IPSASB plans to consult with stakeholders about adding new project to its work plan. Let us know your views on the possible new projects listed in Appendix A of the consultation document, and whether there are any other projects that should be prioritised.  

Sustainability reporting standards

The IPSASB’s proposed strategic objective refers not only to financial reporting, but also to sustainability. The IPSASB plans to develop International Public Sector Sustainability Reporting Standards—starting with the topics of Climate-related Disclosures, General Requirements for Disclosure of Sustainability-related Information, and Natural Resources – Non-financial Disclosures. The XRB is a member of the IPSASB Climate-related Disclosures Topic Working Group, providing recommendations on the development and content of the Climate-related Disclosures standard. The IPSASB is seeking feedback on what other sustainability reporting projects should be added to its work programme after those three projects are completed – let us know your views.

Please note: At present, there is no mandate for the XRB to issue public sector sustainability reporting standards.

Accessing the Consultation Document


Submissions to the XRB closed on 15 December 2023. Submissions to the IPSASB closed on 15 February 2024.

Thank you to everyone who provided feedback on this consultation.  The informal feedback we received helped inform our comment letter to the IPSASB. 

The XRB's comment letter to the IPSASB can be viewed below.