In preparation for its 4^th Research Forum, which will be co-hosted by Comparative International Governmental Accounting Research Network (CIGAR) at its June 2024 conference, the IPSASB is calling for scholarly contributions from the academic community. This is an opportunity for researchers to have a significant impact on accounting standards used by governments and public sector entities across the globe.

Coordinated through the Academic Advisory Group, which includes independent scholars from all parts of the world, as well as the IPSASB members who have an academic background, the IPSASB is offering a grant of USD $2,000 for selected scholarly papers submitted covering three research areas. Up to six grants are available in total [one of the Research Area 2 grants will be funded by the Association of Chartered Certified Accountants (ACCA)]. 

The research areas of interest are:

Research Area 1: Research on Practical IPSAS Implementation Challenges

• Natural Resources 
• Presentation of Financial Statements

Research Area 2: Sustainability Reporting Focused Research

• Climate Change and Public Sector Reporting Related to Sustainability 
• Accounting for Biodiversity in the Public Sector

Research Area 3: Research on Adoption and Implementation of Specific IPSAS

• IPSAS 31, Intangible Assets
• IPSAS 33, First-Time Adoption of Accrual Basis IPSAS
• IPSAS 42, Social Benefits

The grant recipients, as well as other scholars, will present the first drafts of their full papers at the 2024 Research Forum (June 2024). As a first step, academics are invited to submit abstracts by September 1, 2023. (Extended until September 17, 2023) For more information, see the IPSASB’s Call for Papers.

Learn more about the Academic Advisory Group and submit.

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 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, 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.  

The International Ethics Standards Board for Accountants (IESBA) congratulates the Italian Ministry of Economy and Finance on the announcement today of the launch of a new Code of Ethics and Independence for Auditors in Italy. This new Italian Code of Ethics (Codice italiano di etica e indipendenza dei revisori legali dei conti), which is based off IESBA’s International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) with specific adaptations and localizations for compatibility and operability with the Italian and European regulatory frameworks, replaces the country’s previous code of ethics, adopted in 2018.

“On behalf of IESBA, I applaud the Italian Ministry of Economy and Finance for this important commitment to ethics and independence, and to the public interest,” said Gabriela Figueiredo Dias, IESBA Chair, who was invited to speak at the announcement event in Rome today. “This code will provide statutory auditors with a stronger ethics and independence framework, significantly elevating the ethical bar for an important group of professionals who are formally provided with public faith in reviewing financial statements and whose work is, therefore, critical to create trust in corporate information and to support sound business relations and a well-functioning economic system.”

The IESBA Code places a responsibility on all professional accountants to act in the public interest. The strength and global acceptance of the Code are evident as it has been adopted or is used in over 130 jurisdictions, translated into about 40 languages, and adopted by the 34 largest international networks of accounting firms for transnational audits.

About the IESBA

The International Ethics Standards Board for Accountants serves the public interest by setting ethics standards, including independence requirements, as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information. Along with the International Auditing and Assurance Standards Board, the IESBA is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions.

Congratulations to the International Sustainability Standards Board (ISSB) for achieving a major milestone today, releasing its #sustainability-related disclosure standards S1 and S2! These new standards establish a holistic framework that will drive greater consistency, accuracy, and comparability in sustainability information disclosures at a global level.    
                  
IESBA believes strong reporting and assurance standards must work under the umbrella of equally strong #ethics standards to foster public confidence in sustainability information. Therefore, to complement the achievements of the ISSB and the new sustainability assurance standards being developed by the International Auditing and Assurance Standards Board (IAASB), IESBA is on track to develop robust ethics and independence standards on #sustainabilityreporting and assurance that can be used by all sustainability information preparers and assurance practitioners worldwide.

Learn more here: https://lnkd.in/e-pt3wnh

As the global voice of the accountancy profession, IFAC has long supported the establishment of the International Sustainability Standards Board (ISSB) to develop a comprehensive global baseline of sustainability disclosures, endorsed by IOSCO, and used around the world. The goal is a global system for consistent, comparable, reliable, and assurable sustainability information that can be complemented by local standards or broader public policy needs.  

With today’s release of its first two standards, the ISSB has answered stakeholders’ calls to move with pace, to focus on the needs of investors and capital markets, and to build upon existing and respected frameworks and standards.   

IFAC CEO Kevin Dancey said, “In one sense, the finalization of S1 and S2 by the ISSB marks the beginning of the work to be done by the accountancy profession.  All professional accountants—whether working in business, as preparers or auditors, or serving as leaders of professional accountancy organizations—must now advocate for and implement these standards so that high-quality corporate reporting of sustainability-related information becomes a reality.   The ongoing work of the IAASB and IESBA will bring trust and confidence through high-quality—and hopefully mandatory—assurance.”  

“To that end, IFAC calls on the global accountancy profession to work with local regulators and stakeholders to support the adoption of ISSB standards, to help build capacity for their implementation alongside any local complementary reporting requirements, and to continue to contribute our expertise and feedback to the ISSB as its important standard setting work continues.”   

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 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce. 

With the myriad of opportunities available to professional accountants across positions, locales and sectors with the ability to progress in many different roles, accountancy is a passport to meaningful and rewarding careers in both the private and public sectors. This was the theme of the latest meeting of IFAC’s Professional Accountants in Business (PAIB) Advisory Group held in New York City, which convenes a global and diverse group of professional accountants working in a variety of leadership positions in business and the public sector.  

A new article from IFAC explores five opportunities identified by the PAIB Advisory Group available to professional accountants to shape a career for themselves with lasting impact. By enabling digital transformation, connecting organizational goals to corporate sustainability targets and the sustainability development goals (SDGs), and by helping to manage short and long-term trade-offs, professional accountants are contributing to more resilient and sustainable organizations and economies.   

“The accountancy profession is evolving, and there has never been a better time to be an accounting and finance professional,” said Sanjay Rughani, IFAC PAIB Advisory Group Chair. "Professional accountants are critical to driving sustainable prosperity, and we are at a time of unprecedented opportunity to meet the increasing demands for finance and accountancy skills from our multiple stakeholders, including society at large.” 

Explore the five opportunities that make accountancy a passport to meaningful careers in the private and public sectors.  

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 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce. 

About the PAIB Advisory Group 

Formed in 1977, the PAIB Advisory Group is comprised of volunteers with experience and expertise in the world of business and the public sector, nominated by the professional accountancy organizations that make up IFAC’s membership. 

On June 1, 2023, the International Ethics Standards Board for Accountants (IESBA) welcomed a new member following his appointment by the Public Interest Oversight Board (PIOB).

Héctor Lehuedé, is an independent consultant and a lawyer based in Santiago, Chile, with extensive experience in ethics, compliance, and corporate governance, and related areas, including sustainability, regulation of auditors, and tax matters. Previously, Mr. Lehuedé served eight years at the Organisation for Economic Co-operation and Development (OECD's) Corporate Affairs and Corporate Finance Division in Paris. He also holds positions as an independent non-executive director and affiliate professor at Pontificia Universidad Católica's Corporate Governance Center.

Mr. Lehuedé was appointed to the Board by the PIOB for a three-year term. 

“On behalf of the IESBA, it is my great pleasure to welcome Héctor to the Board,” said IESBA Chair Gabriela Figueiredo Dias. “Héctor comes to the IESBA at a critical time in our strategic work on sustainability, tax planning, and several other key projects. I’m confident his background, expertise and experience will further broaden our perspectives and enrich our deliberations as we work towards developing high-quality international ethics standards in the public interest.” 

Mr. Lehuedé will join the IESBA’s 17 other members next week in New York for its week-long Board meeting.*

*IESBA’s June Meetings will be live streamed on IESBA’s YouTube Channel. For more on the meetings, click here: https://lnkd.in/eK4p2xRV

About the IESBA

The International Ethics Standards Board for Accountants serves the public interest by setting ethics standards, including independence requirements, as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information. Along with the International Auditing and Assurance Standards Board, the IESBA is part of the International Foundation for Ethics and Audit. The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards. For copyright, trademark, and permissions information, please visit Permissions.

Event will be held online July 13 from 1:00-2:00pm CEST / 7:00-8:00am EDT

According to a  Global Guide for Professionalisation in Public Sector Finance published by ACCA and IFAC, achieving professionalisation brings multiple benefits to the economy, governments and individuals. Public financial management (PFM) reforms will only be achieved if finance professionals have the right skills and knowledge and if the public sector is able to attract and retain the right people.

But this is becoming more challenging in a world where the public sector is increasingly competing for talent, despite the tangible advantages of a finance career in the public sector, as highlighted in the latest ACCA’s Global Talent Trends 2023: Public Sector report.

Join ACCA (the Association of Chartered Certified Accountants) and IFAC (the International Federation of Accountants) for a live global webinar to explore:

1. How governments are professionalising their finance functions and building their capacity and capabilities to improve public service outcomes and ultimately deliver value for citizens.
2. How to make public employment and management systems better able to attract, recruit and retain the best talents to achieve successful professionalization.

Helen Brand, chief executive of ACCA, said: “Professionalising the public finance function requires political will, the right structures and governance, adoption of appropriate policies, and a commitment to continuous development and improvement. Achieving professionalisation brings multiple benefits to individual professionals, governments, and the wider economy. It means greater financial credibility, improved financial management in the public sector, and greater access to diverse career options for individuals.”

"The professionalisation of public sector finance functions is crucial for effective governance and sustainable economic development. By nurturing a highly skilled and accountable workforce, we can increase transparency, efficiency, and trust in the management of public finances”, said Kevin Dancey, IFAC CEO. “Attracting top talent is key to enhance the profession's capacity to navigate complex financial and social challenges and drive positive change in the public sector."

The event will feature:  

• Tracey Carroll, First Assistant Secretary, Financial Analysis, Reporting and Controlling, Federal Ministry of Australia
• Lorena Rivero del Paso, Public Financial Management Advisor, IMF
• Dónal Mulligan, Policy Analyst, Public Employment and Management, OECD
• Alex Metcalfe, Global Head of Public Sector, ACCA
• Laura Leka, Principal, IFAC,

The event is free to attend and will be held in English via zoom. View the agenda and register now.  

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 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce

About ACCA

ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants.

We’re a thriving global community of 241,000 members and 542,000 future members based in 178 countries and regions, who work across a wide range of sectors and industries. We uphold the highest professional and ethical values.

We offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. Our qualifications and learning opportunities develop strategic business leaders, forward-thinking professionals with the financial, business and digital expertise essential for the creation of sustainable organisations and flourishing societies.

Since 1904, being a force for public good has been embedded in our purpose. In December 2020, we made commitments to the UN Sustainable Development Goals which we are measuring and will report on in our annual integrated report.

We believe that accountancy is a cornerstone profession of society and is vital helping economies, organisations and individuals to grow and prosper. It does this by creating robust trusted financial and business management, combating corruption, ensuring organisations are managed ethically, driving sustainability, and providing rewarding career opportunities.

And through our cutting-edge research, we lead the profession by answering today’s questions and preparing for the future. We’re a not-for-profit organisation. Find out more at accaglobal.com

Last month, IFAC was accepted as an Affiliate Member of the International Organization of Securities Commissions (IOSCO).  This marks a significant step in IFAC’s ability to work with other international organizations for the public interest, and to elevate the voice of the global accountancy profession with key global stakeholders.  IFAC is the sole representative of the accountancy profession within the IOSCO membership. 

IOSCO is the international body that brings together the world's securities regulators and is recognized as the global standard setter for the securities sector. IOSCO develops, implements and promotes adherence to internationally recognized standards for securities regulation.  IOSCO was established in 1983 and has 238 Members.   

IOSCO’s Ordinary members include securities regulators in over 130 jurisdictions.  The Affiliate Membership category includes self-regulatory organizations (SROs), securities exchanges and markets infrastructure, and other international bodies with a direct interest in securities regulation.   

Affiliate Member status enables IFAC to participate in the IOSCO Affiliate Members Consultative Committee (AMCC), which is a platform for Affiliate Members to provide important perspective into IOSCO’s regulatory policy work, as well as to share experiences and enhance cooperation amongst Affiliate Members.  IFAC can also participate as an observer at the IOSCO Presidents Committee meeting. 

“IOSCO is a global leader on key IFAC priorities like investor protection, corporate reporting, audit quality, sustainability and financial literacy,” said Kevin Dancey, Chief Executive Officer at IFAC. “By joining IOSCO as an Affiliate Member, IFAC looks to strengthening the accountancy profession’s engagement on these and other key topics at both the global and jurisdictional levels.” 

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 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce.

The International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) applaud the Public Interest Oversight Board’s (PIOB’s) recent appointment Alan Johnson to be the inaugural chair of the new Stakeholder Advisory Council (SAC). Mr. Johnson brings a wealth of international experience to this new role, including as a former Trustee of the International Foundation for Ethics and Audit; as a chief executive, non-executive director, and audit and risk assurance committee chair; and as past president of the International Federation of Accountants.

In commenting on Mr. Johnson’s appointment and the creation of the SAC, Gabriela Figueiredo Dias and Tom Seidenstein, IESBA and IAASB Chairs, respectively, stated, “The IESBA and IAASB will benefit greatly from this newly created, diverse forum that will advise us on our strategies and projects. We very much look forward to working with Alan and benefiting from his unique experience and perspectives and from his insights which will ensure our Boards remain responsive to the public interest.”

The International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) applaud the Public Interest Oversight Board’s (PIOB’s) recent appointment of Alan Johnson to be the inaugural chair of the new Stakeholder Advisory Council (SAC). Mr. Johnson brings a wealth of international experience to this new role, including as a former Trustee of the International Foundation for Ethics and Audit; as a chief executive, non-executive director, and audit and risk assurance committee chair; and as past president of the International Federation of Accountants.

In commenting on Mr. Johnson’s appointment and the creation of the SAC, Gabriela Figueiredo Dias and Tom Seidenstein, IESBA and IAASB Chairs respectively, stated, “The IESBA and IAASB will benefit greatly from this newly created, diverse forum that will advise us on our strategies and projects. We very much look forward to working with Alan and benefiting from his unique experience and perspectives and from his insights which will ensure our Boards remain responsive to the public interest.”