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.