Environmental stewardship is often seen by many as a key government responsibility. The conservation of tangible natural resources could have significant impacts on current and future generations around the world, but without effective guidance for how to account for the extent and value of these resources, they are often left out of public sector general purpose financial statements. Recognizing tangible natural resources held for conservation can inform decisions about their stewardship and account for how they change over time, such as if they are depleted, degraded, lost, restored, or enhanced.

The International Public Sector Accounting Standards Board (IPSASB) has issued a new IPSAS Standard to address the need for guidance: IPSAS 51, Tangible Natural Resources Held for Conservation. IPSAS 51 introduces new, public sector-specific accounting guidance on accounting for natural resources with physical substance, such as land, trees, and water, often held by governments to preserve or protect them. IPSAS 51 also highlights guidance in other standards that applies to natural resources that are held for other purposes.

IPSASB Chair Thomas Müller-Marqués Berger said:

“Decisions about why a public sector entity holds natural resources have long-term financial and social consequences. IPSAS 51 helps governments better connect environmental stewardship with public finances, improving transparency around how today’s choices affect public wealth and future generations.”

Access IPSAS 51, Tangible Natural Resources Held for Conservation. IPSAS 51 is effective for annual financial statements for periods beginning on or after January 1, 2028. Earlier application is permitted.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards (IPSAS Standards), IPSASB Sustainability Reporting Standards (IPSASB SRS™ Standards) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS Standards and IPSASB SRS Standards and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC®). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

About the Public Interest Committee
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.

• Launches the strategic planning process for both boards’ next strategies and work plans
• Reflects deepened IESBA-IAASB coordination through a single, streamlined consultation that reduces stakeholder burden
• Announces a coordinated 2026 consultation calendar to support effective and meaningful engagement

The International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) today launched a joint global stakeholder survey, marking the beginning of work toward their respective Strategies and Work Plans (SWPs) for 2028–2031—a period of expected significant change in the global audit, assurance and ethics landscape.

The joint survey represents the first step in the boards’ strategic planning process and will help inform the development of their respective Consultation Papers, targeted for approval at the end of 2026. By launching a single, coordinated survey, IESBA and IAASB are reinforcing their close collaboration while streamlining engagement and reducing duplication for stakeholders, who are invited to contribute to one  rather than parallel surveys.

The survey seeks input from a broad and diverse range of stakeholders, reflecting the global reach and public interest role of both boards. Responses will help the boards better understand how the environment for audit, assurance, ethics, and independence is evolving, and how the public interest can best be served in a rapidly changing global reporting ecosystem.

“As the global audit, assurance, and ethics landscape continues to evolve, it is essential that our strategies are informed by diverse stakeholder perspectives,” said Gabriela Figueiredo Dias and Tom Seidenstein, Chairs of the IESBA and IAASB, respectively. “This joint survey reflects our shared commitment to listening carefully, coordinating closely, and ensuring our work continues to serve the public interest in a rapidly changing environment.”

The survey focuses on three principal areas:

• Strategic positioning for 2028–2031, including how the boards should assess success by the end of the next strategy period;
• Key environmental trends shaping the future of audit, assurance, ethics, and independence, such as digital transformation, geopolitical and regulatory developments, sustainability expectations, and evolving business models of accounting firms; and
• Opportunities for joint or parallel action, where closer coordination between IESBA and IAASB could enhance impact and effectiveness.

Stakeholders may respond to all questions or only those most relevant to their perspectives. All responses will form part of the public record and will be published on the boards’ websites in accordance with their due process.

The survey is open until May 15 and can be accessed online here.

Reducing Consultation Fatigue through Coordination

The joint survey also reflects a deliberate effort by IESBA and IAASB to coordinate their consultation activities, particularly during 2026, a year expected to include a significant volume of consultations.

While the boards often consult similar stakeholder groups, they recognize that individuals within those groups may respond to either ethics-focused consultations or audit and assurance-focused consultations, notwithstanding that some issues or topics may be of common relevance to both boards. Through careful planning, including staggering consultation timelines, the boards aim to avoid multiple consultations closing at the same time, supporting more effective participation and higher-quality feedback.

Anticipated 2026 IESBA and IAASB Public Consultations

Joint

• Joint SWP Stakeholder Survey, January 21–May 15

IESBA

• Role of CFOs Survey, February 2–April 24
• Post-Implementation Review of the Restructured Code Survey, April 1–July 3
• Post-Implementation Review of the Provisions on Responding to Non-Compliance with Laws and Regulations (NOCLAR) Survey, April 1–July 30

IAASB

• Post-Implementation Review of ISA 540 (Revised) Survey, February 17–June 15
• Exposure Draft for Proposed ISRE 2410 (Revised), Review of Interim Financial Information Performed by the Independent Auditor of the Entity, May 6–September 3
• Exposure Draft for the Maintenance of the ISA for Less Complex Entities, July 16–October 29
• Exposure Draft for Proposed Revisions to ISA 330, The Auditor’s Responses to Assessed Risks, ISA 500, Audit Evidence, and ISA 520, Analytical Procedures, July 28–December 15

About IAASB and IESBA
The International Auditing and Assurance Standards Board^© and the International Ethics Standards Board for Accountants^© are part of the International Foundation for Ethics and Audit (IFEA) ^©, a nonprofit organization that supports high-quality, international ethics, audit, and assurance standards in the public interest. The IAASB and IESBA develop and issue their standards independently and in accordance with an approved due process and the Public Interest Framework, overseen by the Public Interest Oversight Board.

The IAASB develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements.

The IESBA is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.