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Deloitte comment letter on the IPSASB strategy consultation

Published on: Jul 31, 2014

Deloitte's IFRS Global Office has responded to the International Public Sector Accounting Standards Board’s (IPSASB) Strategy Consultation.

Deloitte's IFRS Global Office supports the strategic objective of the IPSASB to improve transparency in financial reporting by the public sector through increasing adoption of accrual-based IPSASs and continuing to develop high-quality financial reporting standards. The Global Office suggests that the focus of the IPSASB should be on the development of IPSASs and only allocate a limited amount of resources towards other related activities. Deloitte's IFRS Global Office also recommends the review of the IPSASB’s current standard setting due process steps to ensure it is sufficiently robust and meets the current best practices. Further, the Global Office supports the approach of basing IPSASs on IFRSs when determining potential future projects and that convergence with IFRSs should be the normative action.

The full comment letter is available for download below.

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