Highlights from the IPSASB's June 24-27, 2014, meeting in Toronto, Canada.

:44 - Chair's Opening Remarks

2:40 - Conceptual Framework Update

3:25 - First-time Adoption of IPSASs (Exposure Draft 53)

4:25 - Government Business Enterprises Consultation Paper

6:14 - Public Sector Combinations

7:00 - Social Benefits Consultation Paper

8:32 - Exposure Drafts 48-52 

This Handbook contains the complete set of the International Public Sector Accounting Standards Board’s^® (IPSASB^®) pronouncements on International Public Sector Accounting Standards™ (IPSASs™). It also includes Recommended Practice Guidelines (RPGs), with the introduction of RPG 1–Reporting on the Long-Term Sustainability of an Entity’s Finances and RPG 2-Financial Statement Discussion and Analysis, which were both approved in June 2013 and issued in July 2013.

David Watkins spent 34 years in the UK public sector. He began his career at the National Audit Office (NAO), where he gained his Chartered Institute of Public Finance and Accountancy (CIPFA) qualification. He became a CIPFA Fellow in February 2016.

His experience in the NAO was mainly focused on auditing accruals accounts. He moved to HM Treasury in 2000, where he worked on accounting policies for Whole of Government Accounts, including social benefits and tax. Mr. Watkins became secretary to the Financial Reporting Advisory Board and developed the Government Financial Reporting Manual.

In May 2006, he became Head of Financial Reporting Policy where he led the move to International Financial Reporting Standards across central government. In September 2008, Mr. Watkins moved to the Foreign and Commonwealth Office where he held a number of roles relating to improving processes and procedures. He retired from the public service in April 2013. Since May 2013 he has been providing consultancy services relating to improving Public Financial Management and migrating to accrual based accounting, mainly in Africa.

He has been a team member on a number of IMF missions relating to improving government financial reporting. He was the Chair of CIPFA’s Accounting and Auditing Standards Panel (from May 2010 to September 2021) and was a member of the Association of Chartered Certified Accountants' Public Sector Global Forum (2007 to 2016).

The International Public Sector Accounting Standards Board has submitted to the IPSASB Governance Review Group its response to the public consultation paper on the Future Governance of the IPSASB.

The Review Group is chaired by representatives from the World Bank, International Monetary Fund, and Organization for Economic Cooperation and Development, and includes representatives from the Financial Stability Board, the International Organization of Securities Commissions and the International Organization of Supreme Audit Institutions.

This summary provides an overview of the IPSASB's Strategy Consultation 2015 Forward