XRB draft comment letter on the IPSASB 2025 Work Program Consultation
The XRB has issued a Draft Comment Letter (DCL) for public consultation in response to the IPSASB 2025 Work Program Consultation.
The XRB supports the IPSASB’s initiative to review its work programme for 2026 and beyond. In the DCL we comment on accounting and sustainability matters. The accounting matters included in the DCL:
Encourages the IPSASB to undertake a research project on the architecture of its existing literature, to clarify where guidance is best situated and to clearly define the applicability of different types of guidance, including materiality considerations.
Supports maintaining alignment with IFRS Accounting Standards where transactions are the same or similar in the public and private sectors, and recommends prioritising IPSASB projects linked to current IASB projects, including IAS 37 Provisions and Disclosures about Uncertainties in the Financial Statements.
Encourages the IPSASB to develop an IPSAS based on IFRS 17 Insurance Contracts, drawing on New Zealand and Australian experience adapting IFRS 17 for the public sector.
The XRB is seeking stakeholder feedback on the DCL to inform its final submission to the IPSASB.
To allow stakeholders sufficient time to consider the DCL, the deadline for submissions has been extended to Monday, 13 April 2026.
For further detail on this consultation, see the XRB website.
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