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.
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
Commenting on the Consultation Document
Please send your comments—both formal and informal—by 15 December 2023, using the secure upload form below.
Comments can also be made directly to the IPSASB (by 15 February 2024), using this link https://www.ipsasb.org/publications/strategy-and-work-program-2024-2028-consultation. When submitting directly, we encourage you to send a copy of your submission to us using the upload form below.
We intend on publishing all comments on the XRB website, unless they may be defamatory. If you have any objection to this, we will not publish them. However, they will remain subject to the Official Information Act 1982 and, therefore, may be released in part or in full. The Privacy Act 2020 also applies.