Today, the IESBA announced that the eCode – a digital tool to access and navigate the  International Code of Ethics for Professional Accountants (including International Independence Standards) (the Code) – will be moving to the recently announced eIS, or e-International Standards, platform.  eIS is a web-based platform that provides electronic access to the authoritative standards developed by the IESBA, the International Auditing and Assurance Standards Board (IAASB) and the International Public Sector Accounting Standards Board (IPSASB). In addition to the standards, eIS provides access to non-authoritative resource materials, including staff-prepared Basis for Conclusions and Questions and Answers publications.

“Over two years ago, the IESBA and IFAC jointly launched the eCode to provide a web-based resource for the adoption and use of the IESBA Code,” said Dr. Stavros Thomadakis, IESBA Chairman. “Now, with the launch of eIS, the profession has convenient access to an enhanced version of the eCode – or eCode 2.0 – alongside the digitized standards of the IAASB and the IPSASB. The new platform leverages technologies to further refine existing features and user experience of the eCode. The platform sets the stage for new functionalities in the future, including translations. I am confident that users will expand their use of eCode 2.0 and that the reach of the Code of Ethics will become even broader”.

The eIS is intuitive, easily navigable and offers direct access to the 2021 edition of the IESBA Handbook and relevant resources. The eCode has a new look that will further enhance the user experience regardless of the device used to access the Code.  Constituents across the breadth of the stakeholder community were surveyed during the development phase to learn how they currently use the standards and how that use could evolve in a digital environment. The eIS and eCode 2.0 also benefited from the input from representatives of the IESBA and IESBA staff.

“eIS is another significant leap forward as the IESBA continues to leverage modern technologies, including mobile access, to make the content of the Code as widely accessible, visible and user-friendly as possible,” said Ken Siong, the IESBA Program and Senior Director. “Between 2020 and 2021, as the eCode became a valuable resource for firms, national standard setters, regulators and audit oversight bodies, professional accountancy organizations, investors, academia and others, pageviews of the platform jumped nearly 40%. We’re looking forward to seeing that trend continue and accelerate under eIS.”

Users of the current eCode will still be able to access the platform at www.IESBAeCode.org until December 30, 2021. However, as of December 31, 2021, they will be re-directed to the eIS platform.

To learn more about eIS, click here. 

To learn more about the IESBA, visit www.ethicsboard.org.

The IPSASB launched eIS – a centrally located digital gateway to the international standards that guide the accountancy profession, including IPSAS, the international accrual-based accounting standards increasingly used by governments and other public sector entities around the world.

eIS, or e-International Standards, makes the official standards of the IPSASB more accessible and easily digestible by allowing for convenient digital access anywhere with an internet connection and across multiple devices.

Previously, the standards were only available as harder-to-navigate PDFs or as printed copies and handbooks. The intuitive navigation, advanced search functions and filters, and straightforward controls of eIS make the standards easier to access and utilize. Current and previous versions of standards are available in one place for use and comparison without the need to obtain multiple handbook editions.

 “Accrual financial reporting is fundamental to transparency and accountability in the public sector, as well as providing information for good decision making. By 2030, 81% of the jurisdictions in the 2021 International Public Sector Accountability Index reporting on accrual are projected to be making use of IPSAS as part of their accrual financial reporting frameworks.” said Ian Carruthers, IPSASB Chair. “Given the projected growth of IPSAS adoption and implementation globally, eIS is a timely and crucial platform that will improve the accessibility of the standards.”

eIS was developed by IFAC collaboratively with the IESBA, the IAASB, and the IPSASB. The four organizations, through surveys and conversations with key stakeholders, identified the key elements required to deliver a practical, modern platform allowing the profession easier access to international standards, while providing enhanced usability.

To learn more about eIS, visit https://eis.international-standards.org/.

To explore accrual-based reporting frameworks and IPSAS adoption globally, visit the International Public Sector Financial Accountability Index.

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®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. 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.

Jan van Schalkwyk is an executive at the Auditor-General South Africa (AGSA), supporting Auditor-General Maluleke in local and international work. He started his career at Deloitte, but then decided to change track and continue his career in public sector auditing, with a focus on capacity development. This led to his involvement in INTOSAI (the global body of Auditors-General), where he has been involved in the development of INTOSAI-P 12 (a standards that has, over time, become the golden standard for capacity development) and, more recently, led a task-force on INTOSAI auditor professionalisation (TFIAP).

The International Public Sector Accounting Standards Board^® (IPSASB^®) welcomes the IFRS Foundation Trustees announcement of the formation of the International Sustainability Standards Board (ISSB), together with the publication of the prototype climate and general disclosure requirements developed by the Technical Readiness Working Group (TRWG).

“Climate change is an issue that is increasingly important to us all. Urgent public sector action will be critical to successfully addressing climate change, through the combination of its central roles as policy setter, regulator, funder and in service delivery. Strong governance, effective implementation, and accountability for the use of public sector resources will all be essential if governments are to play their parts in addressing climate change and sustainability more broadly,” said Ian Carruthers, IPSASB Chair.

“The guidance from the new ISSB will provide important tools for both effective decision making and strong reporting on sustainability issues globally. While having an investor focus, with suitable interpretation it has the potential to provide a basis for some of the guidance that jurisdictions will require for tracking their progress in reaching their climate change targets and other key sustainability initiatives such as the UN’s Sustainable Development Goals. The IPSASB looks forward to working closely with the ISSB as exploration starts of public sector sustainability reporting guidance needs following COP26.”

Sustainability is a focus area of the IPSASB. Learn about the IPSASB’s thinking related to sustainability and its existing guidance.

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®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. 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.

Sustainability is not just about the environment. The UN Sustainable Development Goals (SDGs), defines sustainability as “a commitment to eradicate poverty and achieve a sustainable world by 2030 and beyond, with human well-being and a healthy planet at its core.” Sustainable development is a core principle of the Treaty on European Union and a priority objective for the Union’s internal and external policies.

The International Public Sector Accounting Standards Board^® (IPSASB^®) has issued Amendments to IPSAS 5, Borrowing Costs – Non-Authoritative Guidance.

The new pronouncement adds implementation guidance and illustrative examples to IPSAS 5. The new material illustrates how the existing principles for when borrowing costs can be capitalized should be applied in various regularly encountered public sector contexts. No amendments are proposed to the authoritative material in IPSAS 5, and the existing option to expense or capitalize borrowing costs is retained.

“We undertook this project to illustrate how to apply existing principles in IPSAS 5 to scenarios that are unique to the public sector,” said IPSASB Chair Ian Carruthers. “This new guidance should support our constituents in applying the existing standard to the practical challenges they have identified in determining which borrowing costs can be capitalized and when.”

This illustrative guidance addresses public sector specific issues by focusing on transactions associated with capitalizing borrowing costs when funds are borrowed by a related entity or centralized lending program. The additional guidance facilitates the preparation of financial reporting information that is relevant, faithfully representative, and comparable for these important public sector transactions. 

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®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. 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.