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  • IPSASB eNews: June 2026

    English

    View the newsletter version.

    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.

    Work Program Consultation 

    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.

    Climate-related Disclosures: Public Policy Outcomes

    Following the decision to split IPSASB SRS ED 1 into two standards, the first issued in January 2026, we continued discussions with the Board related to developing a second IPSASB SRS Standard focused on Public Policies with climate-related outcomes.

    The Board decided that entities responsible for public policies with climate-related outcomes should provide disclosures required by the upcoming standard including specific disclosure requirements on financial implications should extend beyond the entity itself, and proportionality mechanisms should be added for financial implications and GHG emissions disclosure requirements. The Board will continue deliberations and review an updated draft standard at the September meeting.

    Strategy Update

    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. 

    Measurement – Application of Current Operational Value in IPSAS 31, Intangible Assets

    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.

    Implementation Initiatives

    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.

    Improvements to IPSAS Accounting Standards 

    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.

    Next Meeting

    Our next Board meeting will be held September 15-17, 2026, in Accra, Ghana. 

  • The State of Play: Sustainability Disclosure and Assurance

    Six-Year Trends and Analysis (2019-2024)

    This edition of The State of Play: Sustainability Disclosure and Assurance marks six years of benchmarking data and corresponding analysis. Our findings suggest the global sustainability reporting ecosystem is becoming less fragmented as more companies begin adopting, or preparing to adopt, the International Sustainability Standards Board (ISSB) Standards and European Sustainability Reporting Standards (ESRSs).

    IFAC
    English

  • IAASB Releases New ISSA 5000 Materiality FAQs to Support Consistent, Effective Application in Sustainability Assurance Engagements

    New York, New York English

    The International Auditing and Assurance Standards Board (IAASB) has released a new Frequently Asked Questions (FAQ) publication to support implementation of the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.

    The FAQs focus on the application of materiality in sustainability assurance engagements and are intended to promote consistent understanding and effective application of the concept under ISSA 5000.

    The document explains how both reporting entities and assurance practitioners apply materiality in the context of sustainability information, including:

    • Understanding the information needs of intended users of sustainability information;
    • Addressing qualitative and quantitative disclosures;
    • Addressing double materiality considerations, when required; and
    • Considering how materiality is applied throughout the engagement to support decision-useful sustainability reporting.

    The FAQs also provide explanations and illustrative examples to help stakeholders better understand the application of the concept of materiality under ISSA 5000. The new material brings together other related matters highlighted in other IAASB support materials by providing appropriate links.

    The document is available on the IAASB website here: www.iaasb.org/ISSA5000

    This publication complements IAASB’s existing resources and is intended to support practitioners, preparers, regulators, and other stakeholders as they implement, or prepare for the implementation of, ISSA 5000. It does not amend, override, or supersede the requirements of ISSA 5000.

    About the IAASB
    The International Auditing and Assurance Standards Board develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements. Along with the International Ethics Standards Board for Accountants, the IAASB is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board oversees IAASB and IESBA activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions.

  • ISSA 5000 Frequently Asked Questions: The Application of Materiality

    This Frequently Asked Questions (FAQ) document supports implementation of the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. The FAQs focus on the application of materiality in sustainability assurance engagements and are intended to promote consistent understanding and effective application of the concept under ISSA 5000.

    IAASB
    English
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