We held our second Board meeting of 2026 from June 9-11, in Washington, D.C. Thank you to the International Monetary Fund (IMF) for welcoming us back to your headquarters for our June CAG and Board meetings and for hosting us at an excellent event specifically related to our work, From Standards to Fiscal Policy: Integrating IPSAS, Fiscal Statistics, and Balance Sheet Analysis to Ensure Data Integrity.
7. Next Meeting
The Board reviewed an initial analysis of the feedback we received on our last Work Program Consultation. The Board explored key themes emerging from respondents' priorities across financial reporting projects, post-implementation reviews, and sustainability reporting projects that would best meet stakeholder needs. Discussions on the Consultation feedback will continue at our September 2026 Board meeting, where we expect the Board to determine which items to commit to the Work Program.
We reflected on the evolution of our strategy as an organization, as we rebalance activities and related resources to more actively support stakeholders with implementation of our standards. The Board decided to begin updating the organization’s strategy and consult with stakeholders to obtain input and feedback on the proposals. Next quarter, the Board will consider a draft of the consultation.
As public sector entities increasingly rely on intangible assets to deliver services, we’ve been considering how those assets should be measured when they are held for their operational capacity rather than to generate cash flows. Informed by feedback to the exposure draft, the Board decided that consistent with the principles developed in IPSAS 46, Measurement, the Current Operational Value measurement basis should be available when measuring intangible assets held for their operational capacity. Next quarter, the Board will continue its deliberations to inform the development of the final pronouncement.
To better understand how our standards are being implemented and the challenges users face, we have implemented initiatives like the IPSASB Application Group and the Financial Reporting Implementation Forum (FRIF) to hear in-depth feedback directly from users. Taking these initiatives into account with constituent feedback to the Work Program Consultation, the Board decided the next FRIF meeting should seek implementers’ feedback on concepts of consolidation, including the application of control, to better understand the public sector application challenges to inform whether a post-implementation review of IPSAS 35, Consolidated Financial Statements, is appropriate.
Many of our standards are adapted from private sector standards such as IFRS Accounting Standards to meet public sector needs. The Board discussed several improvements to IPSAS Accounting Standards to align with the Translation to a Hyperinflationary Presentation Currency and Disclosures about Uncertainties in the Financial Statements amendments to IFRS Standards. Next quarter, we will develop additional improvements to IPSAS Accounting Standards related to public-sector specific examples illustrating uncertainties in the financial statements.
Our next Board meeting will be held September 15-17, 2026, in Accra, Ghana.