International Statistical Standards
Current Status of the Project
The International Public Sector Accounting Standards Board’s (IPSASB) Strategy and Work Plan 2019-2023 includes alignment with Government Finance Statistics (GFS) as an integral part of the Board’s work.
The IPSASB’s Policy Paper Process for Considering GFS Reporting Guidelines During Development of IPSASs sets out the IPSASB process for considering GFS reporting guidelines during the development of IPSAS in order to reduce unnecessary differences with International Public Sector Accounting Standards (IPSAS).
At its 51st session, held in New York from 3 to 6 March 2020, the United Nations Statistical Commission (UNSC) requested the Intersecretariat Working Group on National Accounts (ISWGNA) to develop a roadmap for the revision of the System of National Accounts, 2008 (2008 SNA) for adoption by the Commission in 2025.
Subsequently, the IMF Committee on Balance of Payments Statistics (BOPCOM) decided to launch a parallel process for updating the Balance of Payments and International Investment Position Manual, sixth edition (BPM6), with a target release date of March 2025.
The ISWGNA and the BOPCOM have agreed to coordinate the update of both statistical manuals and other international statistical standards (ISS).
The IPSASB is represented in four ISS Task Teams that deal with relevant topics relevant for IPSAS-ISS alignment:
- Current Account Task Team (CATT) (Task Team BOPCOM)
- Wellbeing and Sustainability Task Team (WSTT) (Task Team ISWGNA)
- Financial and Payments Systems Task Team (FITT) (Joint Task Team BOPCOM/ISWGNA) IMF link / UN link
- Communication Task Team (CMTT) (Joint Task Team BOPCOM/ISWGNA) IMF link / UN link
The IPSASB is also represented in the IMF GFS Advisory committee (GFSAC).
In order to provide the IPSASB with an updated status of the alignment between IPSAS and ISS, the IPSASB developed the IPSAS-ISS Alignment Dashboard, which provides:
a) An overview and summary of differences between IPSAS and ISS;
b) Per each IPSAS, detail of main differences between IPSAS and ISS; and
c) A list of ISS Guidance Notes that are relevant for IPSASB.
Other Publications & Guidance
LINKS TO USEFUL RESOURCES:
Towards the 2025 SNA - Information on the process of updating the 2008 SNA
Update of the Sixth Edition of the Balance of Payments and International Investment Position Manual (BPM6)
IPSASB RELATED GUIDANCE:
Process for Considering GFS Reporting Guidelines During Development of IPSASs
IPSASB COMMENT LETTERS TO ISS GUIDANCE NOTES:
F.12 Covering Hybrid Insurance and Pension Products