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Highlights from the IPSAS Governance Review Group

Highlights from the IPSAS Governance Review Group. Richard BELLIN Cour des comptes (France) PSC Meeting 19 June 2013. BACKGROUND.

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Highlights from the IPSAS Governance Review Group

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  1. Highlightsfrom the IPSAS GovernanceReview Group Richard BELLIN Cour des comptes (France) PSC Meeting 19 June 2013

  2. BACKGROUND • The G 20 meeting in Moscow (February 2013) called to the IMF and World Bank to report on issues of transparency and comparability of public sectorreporting • An IPSAS GovernanceReview Group (IPSAS GRG) wasappointedto make recommandations on the Governance of the IPSAS Board to the G20 (not the content of IPSAS) • The GRG comesafter multiple consultations made for years on arrangements for governance and oversight for International Public Sector Accounting Standards (IPSAS) • The IPSAS GRG comprises representatives of the IMF, World Bank, OECD, EU, IOSCO and INTOSAI.

  3. BACKGROUND • The members of the Accounting and Reporting Subcommittee (ARS) received a call for interest regarding representation of the INTOSAI to the IPSAS GRG • France’s Court of Accounts expressed its interest and was officially accepted as representative • A first meeting washeld in the WB Office in Paris on 31 May

  4. BACKGROUND Questions raisedduringprevious consultations : • A competent and well-balanced standard-setting for the public sector must respond to public sectorspecificities • ShouldMembers of the IPSASB oversight/governance body not beprimarilyfrom the public sectorratherthanfromsecurities and bankregulators? • ShouldGovernments and Parliaments and other public stakeholders as national standard setters not have theirsay in consultation on governance and standards elaboration?

  5. EXPECTED OUTPUTS • To make recommendations to strengthen the current governance and oversight arrangements for the setting of International Public Sector Accounting Standards (IPSAS) • To enhance the perceived relevance, quality and legitimacy of those standards and pronouncements • A consultation document, seeking input from interested stakeholders will be issued in the third quarter of 2013, with a final report and recommendations being issued and made public in Spring 2014.

  6. TENTATIVE TIMELINE • By 30 June 2013, a draft public consultation document on the IPSAS Governancewillbeissued to the GRG for consultation • By 31 July 2013 the public consultation document shouldbeissued for comments, with deadline date of 31 October for submissions • WB and OECD shouldprepare a draft report to bediscussed by GRG Membersearly in 2014 • A final report withrecommendationsshouldbeadressed to G 20 mid-2014

  7. OUR THREE COMMITMENTS • Make sure that all INTOSAI Members are informed about eachsubstantialstep of the GRG. This meansthat : • Wewillinform ARS on dates of consultations and deadlines • Wewillstayavailable to provide and obtainany information requested by INTOSAI Members on the process • Wewilloffer to provide a feedback on GRG ateach INTOSAI relevant meeting thatwewill attend

  8. OUR THREE COMMITMENTS • Make sure that the consultation and draft report are submitted to each INTOSAI Member for individual comment. This meansthat : • Wewillact as dissemination points to ensurethat all INTOSAI Members are informed • Wewill not answer for otherMembers : eachMemberwill comment individually the consultations

  9. Our committements • Make sure that all individualcomments are takenintoconsideration to elaborate the report. This means : • Wewillverifythat all yourcomments are published on the official GRG web site (werecommendthateach INTOSAI Member copy us withtheircommentswhilesendingthem to the GRG) • Wewillverifythat all yourcomments are reflected in the report (the GRG willoperate by consensus) • Wewillmake sure thatenough time isallowed to SAI to informtheirGovernments and other national IPSASB stakeholdersinterested in providingcomments (in many countries the national public sectoraccounting standard setter isunder the auspices of the Ministry of Budget whilebeingautonomous).

  10. Thankyou

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