On 31 March 2014, the IPSASB issued its Strategy Consultation, which proposes its work program for 2015-2019 and strategic objectives. We support 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. We suggest that the IPSASB's focus should be on the development of IPSASs and allocate a limited amount of resources towards related activities since those activities can be carried out by governments, multilateral organisations and through the IFAC’s Transparency Now campaign.

We also recommend the review of the IPSASB’s current standard setting due process to ensure it is sufficiently robust and met the current best practices. Further, we support 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 can be downloaded here.