IPSASB Strengthens Standard-Setting Process, New Consultative Advisory Group (CAG) Established, Inaugural CAG Chair Announced

Dec 07, 2015 | New York, New York | English

The International Public Sector Accounting Standards Board® (IPSASB®) today announced the establishment of a new forum—the IPSASB Consultative Advisory Group (CAG)—that will have representatives of public and private sector organizations and individuals who are interested in or affected by the IPSASB’s work, including those engaged in the preparation, audit, or evaluation of public sector financial reports.

The CAG will provide advice to the IPSASB on:

  • The IPSASB’s strategy and work plan;
  • IPSASB’s projects, including views on technical issues or matters that may impede adopting and implementation of International Public Sector Accounting Standards™ (IPSAS™); and
  • Oher matters relevant to the IPSASB standard-setting activities.

The inaugural meeting of the CAG is provisionally planned for June 2016 in Toronto, Canada.

“The formation of the CAG marks an important milestone in further strengthening of the governance arrangements for the IPSASB following the creation of the Public Interest Committee (PIC) earlier this year. The CAG’s establishment responds to a key recommendation in the governance review group’s report and will serve to further strengthen the IPSASB’s standard-setting processes by enabling additional dialogue with key stakeholders,” said IPSASB Chair Andreas Bergmann.

Accompanying this announcement of the formation of the IPSASB CAG is a call for nominations of representatives from organizations, or individuals, interested in serving as a member of the IPSASB CAG. The IPSASB is particularly interested in nominations of users of public sector financial reports and representatives of governments and other public sector entities, including preparers. Nominations are also encouraged from parliamentarians, public sector auditors, regulators, non-governmental organizations, and other regional and international organizations. The call for nominations will remain open until February 19, 2016. Further information about the call for nominations is available on the IPSASB web site.

The IPSASB today also announced the appointment of Thomas Müller-Marqués Berger as the inaugural Chair of the IPSASB CAG. He will serve as appointed CAG Chair for up to two years during the initial meetings of the CAG until arrangements are in place by which the CAG will elect a chair from its own membership.

“I welcome the important challenge of leading the CAG in its formative period and ensuring it has a stable foundation to provide the IPSASB with timely input to help contribute to the development of high-quality IPSAS,” said Mr. Müller-Marqués Berger.

Mr. Müller-Marqués Berger brings a wealth of leadership and public sector accounting experience to the CAG. Currently, he is the Global Head of International Public Sector Accounting for Ernst & Young and the Chair of the Public Sector Group of Accountancy Europe. Mr. Müller-Marqués Berger has a long and distinguished record of participation in dialogue on public sector accounting and accounting standard setting nationally and internationally, including former service on the IPSASB.

“The IPSASB is fortunate that Thomas has agreed to become the CAG’s inaugural Chair. He is a leader in the field of public sector accounting and is deeply involved in key initiatives, including the European Public Sector Accounting Standards project.” said incoming IPSASB Chair, Ian Carruthers.

The Public Interest Committee (PIC) welcomes these developments from a public interest perspective.

About the IPSASB
The IPSASB develops accounting standards and guidance for use by public sector entities.  It receives support (both direct financial and in-kind) from the World Bank, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, and the governments of Canada, New Zealand, and Switzerland. The structures and processes that support the operations of the IPSASB are facilitated by IFAC.

About the PIC
The Public Interest Committee (PIC) was established in March 2015 to promote the public interest in the standard-setting activities of the IPSASB. The PIC’s remit is to provide assurance that the IPSASB’s standard-setting activities are in the public interest, by providing recommendations on the terms of reference of the IPSASB; the arrangements for nomination and appointment of IPSAB members; and procedures and processes for formulation of the IPSASB’s strategy and work plan; and development of IPSASs. It currently is comprised of individuals from the International Monetary Fund (IMF), International Organization of Supreme Audit Institutions (INTOSAI), Organization for Economic Cooperation and Development (OECD), and World Bank Group (WB).

About IFAC
IFAC is the global organization for the accountancy profession, dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing over 2.8 million accountants in public practice, education, government service, industry, and commerce.

 
 

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