IPSASB consults on sustainability reporting

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02 Dec 2009

The International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) has published a Consultation Paper Reporting on the Long-Term Fiscal Sustainability of Public Finances.

It seeks views on how information on the long-term sustainability of government programs may complement information available in traditional financial statements, thereby increasing transparency and enhancing accountability and decision making. In issuing the Consultation Paper, the IPSASB notes:

"There is a growing understanding that future generations of taxpayers will have to deal with the fiscal consequences of current government policies. Concerns about the ability of governments to meet future service delivery and financial commitments for health, pensions, debt-servicing, and other obligations have long existed, but have increased in the current economic environment. Uncertainty over the long-term financial consequences of government interventions, including the bailouts and stimulus packages that have characterized the global financial crisis, has added another dimension to concerns over the long-term sustainability of public finances in many countries."
Click here to Download the Consultation Paper (PDF 637k), which is copyright by IFAC and posted on IAS Plus with permission. Comments are requested by 30 April 2010.

 

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