The International Public Sector Accounting Standards Board (IPSASB), developer of reporting standards for the public sector, today announced new and returning members of the Board, following its recent meeting in Lisbon, Portugal. The IPSASB Board continues to reflect broad geographic representation, gender parity, and professional expertise in public sector financial and sustainability reporting.
Appointments follow a rigorous nomination and interview process operated by the IFAC Nominating Committee, which is overseen by the Public Interest Committee, and with final approval by the IFAC Board.
The following individuals have been appointed for a three-year term of service beginning on January 1, 2026:
Judith Apaza, Bolivia
Dina Attia, United Arab Emirates
George Scott, United States of America
Alex Fabiane Teixeira, Brazil
Two current members have been re-appointed:
Andrew van der Burgh, South Africa
Nor Yati Ahmad, Malaysia
“IPSASB’s strength lies in its ability to bring together diverse perspectives from across the globe,” said IPSASB Chair Ian Carruthers. “Our new and returning members will help ensure the Board continues to deliver high-quality standards that enhance public financial management and support sustainable development.”
About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®) and other high-quality financial reporting guidance and sustainability reporting standards for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and the World Bank. 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.
This Biennial Review provides a high-level summary of our activities in 2023 and 2024. Over this period, we completed a number of significant long-running projects. We also developed and finalized our 2024-2028 Strategy and Work Program, which builds on the achievements during the previous Strategy and Work Program, that spanned 2019-2023.
Developing high-quality financial reporting standards for the public sector requires an ecosystem. In addition to the feedback we receive from users of our standards around the world, we also rely on the academic community's research to help strengthen our standards.
We're offering up to six grants of $2,000 USD for research related to topics that can help us with our current and future projects including sustainability reporting.
Topics of Interest:
Presentation of Financial Statements
Interaction with GFSM 2014
Accounting for Biodiversity in the Public Sector
Climate-related Disclosures – Public Policy Programs
IPSAS 2, Cash Flow Statements
IPSAS 18, Segment Reporting
IPSAS 20, Related Party Disclosures
IPSAS 31, Intangible Assets
IPSAS 35, Consolidated Financial Statements
As a first step, please submit an abstract related to one of the above topics by September 15, 2025. Final selected papers will be due May 16, 2026. Papers will be presented at the 2026 Research Forum in partnership with the Comparative International Governmental Accounting Research (CIGAR) Network.
Submissions are reviewed by our Academic Advisory Group, chaired by former IPSASB Chair, Andreas Bergmann, and including academic members, as well as representatives of the Comparative International Governmental Accounting Research (CIGAR) Network and International Research Society for Public Management (IRSPM).
Academics: this is an opportunity for you to have a significant impact on accounting standards used by governments and public sector entities across the globe.
IPSAS 46, Measurement introduced a new measurement basis for the public sector called current operational value, a public sector-specific measurement approach designed to reflect the value of assets used to deliver services, rather than to generate cash. Following its release, along with an update to Chapter 7 of the Conceptual Framework, the IPSASB began reviewing how current operational value could apply across existing IPSAS Standards.
“These changes aim to improve how governments and public sector entities report the value of assets they use to deliver services. The pronouncement offers an integrated approach to valuation, guiding entities in measuring the current value of inventories and determining impairment in the public sector,” said Ian Carruthers, IPSASB Chair. “These amendments give public sector financial statement users more relevant, faithfully representative measurement information through broader application of public sector specific measurement guidance.”
The amendments include the introduction of current operational value in IPSAS 12, Inventories, and IPSAS 21, Impairment Non-Cash Generating Assets, the addition of a definition of accounting estimates to IPSAS 3, Accounting Policies, Changes in Accounting Estimates and Errors, and the enhancement of the terminology in current value measurement disclosures.
About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards (IPSAS Standards), IPSASB Sustainability Reporting Standards (IPSASB SRS™ Standards) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS Standards and IPSASB SRS Standards and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. 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.
The amendments include the introduction of current operational value in IPSAS 12, Inventories, and IPSAS 21, Impairment Non-Cash Generating Assets, the addition of a definition of accounting estimates to IPSAS 3, Accounting Policies, Changes in Accounting Estimates and Errors, and the enhancement of the terminology in current value measurement disclosures.
With resources expected to become available in the second half of 2026, at its September meeting, the IPSASB approved its Work Program Consultation to ask stakeholders about the most significant needs concerning financial reporting projects, post-implementation reviews, and sustainability reporting projects. The Consultation is expected to be published in October 2025 and will be open for 180 days.
The IPSASB approved the Project Brief, Making Materiality Judgements, which will be undertaken in three distinct phases. The scope of Phase 2 includes developing non-authoritative guidance aligned with IFRS® Practice Statement 2, Making Materiality Judgments. This narrow-scope project will efficiently and promptly address constituents' need for additional guidance on making materiality judgments when preparing financial statements in accordance with IPSAS Standards.
