The International Public Sector Accounting Standards Board has established a consultative group that will offer advice to the board on setting financial reporting standards for government entities.
The new forum, known as the IPSASB Consultative Advisory Group, or CAG, will include 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 IPSASB operates under the auspices of the International Federation of Accountants.
The advisory group will provide advice to the IPSASB on the IPSASB’s strategy and work plan; the IPSASB’s projects, including views on technical issues or matters that may impede adopting and implementation of International Public Sector Accounting Standards; along with other matters pertaining to the IPSASB standard-setting activities.
The inaugural meeting of the CAG is provisionally set for June 2016 in Toronto.
“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 earlier this year,” said IPSASB chair Andreas Bergmann in a statement. “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.”
The IPSASB has also issued 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.
The board is also encouraging nominations from parliamentarians, public sector auditors, regulators, non-governmental organizations, and other regional and international organizations. The call for nominations will remain open until Feb. 19, 2016. Further information about the call for nominations is available on the IPSASB website.
In addition, the IPSASB announced on Monday the appointment of Thomas Muller-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,” he said in a statement.
M ller-Marqués Berger brings leadership and public sector accounting experience to the CAG. He is currently global head of international public sector accounting for Ernst & Young and the chairs the Public Sector Group of the Fédération des Experts-comptables Européens.
“The IPSASB is fortunate that Thomas has agreed to become the CAG’s inaugural Chair,” said incoming IPSASB chair Ian Carruthers. “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.”
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