IPSASB Establishes Consultative Advisory Group
An advice-giving group has set up by the International Public Sector Accounting Standards Board – IPSASB that will give suggestions to the board on making set up of financial reporting standards for entities of government.
The CAG or IPSASB Consultative Advisory Group is a new forum that will contain spokespersons of private and public companies, and also the persons who are concerned for or influenced by the work of the IPSASB, including all the persons who are connected with the audit, preparation and assessment of public sector financial statements. The IFA – International Federation of Accountants sponsor the IPSASB.
The CAG will give suggestions to the International Public Sector Accounting Standards Board on making strategies, plans, standard setting activities, projects setting, and also advice on all the technical matters and issues that are related to adopting and implementing International Public Sector Accounting Standards.
The first meeting of the Consultative Advisory Group will take place soon in Toronto, June, 2016.
The chairman of IPSASB Andreas Bergmann said in his one statement, “the making of the Consultative Advisory Group shows a significant landmark in additional growth of the supremacy planning for the IPSASB subsequent the formation of the Public Interest Committee. The Consultative Advisory Group’s formation reacts to a key proposal in the supremacy evaluation group’s report and will stronger the IPSASB’s standard setting procedures by facilitating extra conversation with key stakeholders.”
The International Public Sector Accounting Standards Board has also made a call for making choices of spokespersons from companies, or persons who are interested to become member of the International Public Sector Accounting Standards Board Consultative Advisory Group. The International Public Sector Accounting Standards Board is mainly paying attention in making choices of public sector financial statements users and government sector units representatives.