The International Public Sector Accounting Standards Board (IPSASB) is pleased to announce the re-appointment of its Chair, Ian Carruthers, for a second three-year term commencing January 1, 2019. As Chair, Mr. Carruthers will continue to lead the Board as it establishes high-quality accounting standards for use by public sector entities, promote adoption and implementation of International Public Sector Accounting Standards (IPSAS), and issue guidance on public sector financial reporting. The Nominating Committee reappointed Mr. Carruthers early in his tenure to ensure leadership continuity as global adoption of IPSAS continues to advance.

“Mr. Carruthers has been an exemplary leader of the IPSASB, improving the strategic focus of the Board and efficiency of its activities, and deepening stakeholder relationships,” said James Gunn, Managing Director, Professional Standards. “Ian’s reappointment is welcomed at this important period for the IPSASB, and will help ensure continuity in dialogue with stakeholders as adoption decisions are considered in key nations and regions over the coming years.”

“I am honored to have been reappointed to continue to lead the IPSASB in helping to strengthen public sector financial management globally,” said Mr. Carruthers. “As IPSASB celebrates 20 years of standard setting, we are now addressing some of the most challenging public sector accounting issues, while ensuring our existing standards continue to suit the increasing complexity faced by the sector. We are also continuing to raise awareness of the benefits of adopting the standards for public sector accountability, transparency and sound decision making.”

After spending the first part of his career in PwC’s public sector practice, Mr. Carruthers joined HM Treasury in 1999, where he played a key role in the UK Government’s transition from cash to accrual budgeting and reporting, in particular leading its Whole of Governments Accounts program. In 2006, he joined the Chartered Institute of Public Finance and Accountancy (CIPFA), where he led CIPFA’s work on the role of CFOs in the public sector as well as working with IFAC on the development of the joint International Framework for Good Governance in the Public Sector. Mr. Carruthers continues to work with CIPFA, serving as its part-time Chair, Standards.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through the development of accrual-based International Public Sector Accounting Standards^® (IPSAS^®) and other guidance for use by governments and other public sector entities. It receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

About the Public Interest Committee
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.

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. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

IAASB Quality Control Task Force Chair, Karin French, leads a discussion on proposed changes to International Standard on Quality Control (ISQC) 1 for firms. The proposed changes will result in a restructured and enhanced standard that will change the current approach to firms' systems of quality control.

This Handbook contains the complete set of the International Public Sector Accounting Standards Board pronouncements, the International Public Sector Accounting Standards, published as of January 31, 2017. It also includes the Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities.

The International Ethics Standards Board for Accountants^® (IESBA^®) today released for public comment the Exposure Draft, Proposed Revisions to the Code Pertaining to the Offering and Accepting of Inducements. The proposals strengthen the Code of Ethics for Professional Accountants (the Code) by clarifying the appropriate boundaries for the offering and accepting of inducements, and by prohibiting any inducements with intent to improperly influence behavior.

The proposed comprehensive framework covers all forms of inducements and applies to both professional accountants in business and professional accountants in public practice. It also provides enhanced guidance on the offering and accepting of inducements by professional accountants’ immediate or close family members.

“Inducements with intent to improperly influence behavior are a very major concern for the public interest, and they include the issues of bribery and corruption. Inducements made with improper intent are unacceptable and should be prohibited,” said IESBA Chairman Dr. Stavros Thomadakis.

Among other matters, the proposals also require professional accountants to address any threats to compliance with the fundamental ethical principles in accordance with the Code’s conceptual framework where there is no improper intent.

“The development of the proposals was informed by input from Transparency International UK based on their experience and insights in the area of bribery and corruption,” noted IESBA Technical Director Ken Siong. “When completed, the provisions will constitute the last piece of the substantively revised and restructured Code.”

How to Comment
The IESBA invites all stakeholders to comment on the Exposure Draft by visiting the Ethics Board’s website at www.ethicsboard.org. Comments are requested by December 8, 2017.

About the IESBA
The IESBA is an independent standard-setting board that develops and issues, in the public interest, high-quality ethical standards and other pronouncements for professional accountants worldwide. Through its activities, the IESBA develops the Code of Ethics for Professional Accountants, which establishes ethical requirements for professional accountants. The structures and processes that support the operations of the IESBA are facilitated by IFAC. Please visit www.ethicsboard.org for more information, and follow us on Twitter @Ethics_Board.

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. IFAC is comprised of more than 175 members and associates in more than 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.

Ellen Goria is the Associate Director of Global Professional Ethics in the Professional Ethics Division at the Association of International Certified Professional Accountants. Ms. Goria is involved with the division’s standard setting and member enrichment activities and serves as the technical advisor to Andrew Mintzer of the IESBA. She also oversees the Ethics Hotline and interprets the AICPA’s Code of Professional Conduct by providing guidance to membership, state CPA societies, and other interested parties on ethics and independence issues. In her role, Ms. Goria works closely with other AICPA teams to ensure publications accurately reflect the AICPA’s current ethical positions.