The IPSASB and pressing primary, but not only financial, challenges. Critical reflections on IPSASB’s statements and guidelines in the context of fundamental challenges such as sustainability, climate change and the COVID 19 pandemic Ellen Haustein

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Uploaded by Ellen Haustein     Uploaded date: May 30, 2022    
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Publication date
May 26, 2022
Paper language
Abstract
The IPSASB argues that accountants can save the world and tackle recent challenges such as COVID 19, climate change and the implementation of the SDGs by applying accrual‐based IPSAS correctly and perhaps additionally using one or more RPGs on a voluntary basis. his is in contrast to the research findings that the true addressees of financial reporting (beyond investors ‐ that is) citizens and, to some extent, politicians) show very limited interest in FS, based in particular on the lack of
literacy. In order to seriously remedy this situation, the RPG Financial Statement Discussion and Analysis must be further developed ‐ following the EU's example in the private sector ‐ into a mandatory tool that explains policies and their implications in a way that can be understood by laypersons. Since this again threatens to overburden citizens and politicians ‐ now information overload ‐ the IPSASB should combine further development with conceptual considerations on reporting appropriate to the target group in the form of so‐called popular (integrated) reports.
Preferred Citation
Lorson, P.C./ Haustein, E. (2022): The IPSASB and pressing primary, but not only, financial challenges. Critical reflections on IPSASB statements and guidance in the context of fundamental challenges such as sustainability, climate change, and the COVID 19 pandemic, Working paper presented at the EGPA PSG Public Sector Financial Management (PSFM) - Spring Workshop "Rethinking Public Sector Financial Management (PSFM): Public Value and Other Challenges for Accounting Studies (in the Aftermaths of COVID-19)", LUMSA University/Rome on May 26, 2022 (online).

Keywords
IPSASB; RPG; non-financial reporting, sustainability, SDG; climate change; popular reporting; integrated reporting; citizen; politician
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Category
  • Financial accounting
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Type of Paper
Working paper

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