Rick Payne is ICAEW’s expert on building effective finance functions, the role of the CFO and business performance management. Rick works in ICAEW's Business and Management Faculty and carries out research focused on helping members in business. He also sits as a technical adviser on IFAC’s Professional Accountants in Business Committee. Having qualified as a chartered accountant with KPMG he moved into wholesale financial services, undertaking senior roles through to divisional CFO. In addition, Rick is a qualified trainer and executive coach and has an MSc in Organisational Behaviour. He presents regularly to audiences of finance professionals and academics in the UK and internationally.

Ina Sandler supports policy activities in the areas of investment, responsible business conduct, anti-bribery and corporate governance as well as Trust in Business. She also contributes to work in the field of economic policy, is actively engaged with Business at OECD’s development activities and supports outreach activities to expand the Business at OECD observer network.

Ina holds a Master’s degree in International Trade, Finance and Development from the Barcelona Graduate School of Economics and a Bachelor’s degree in Economics from the University of Mannheim. She is a German national, fully fluent in English, with good a knowledge of French and basic Italian. She joined Business at OECD in 2019.

The International Auditing and Assurance Standards Board’s (IAASB) Auditor Reporting Implementation Working Group (ARIWG) recently published this Project Update in the form of a Communiqué, which provides an update on the IAASB’s post implementation review (PIR) of the revised auditor reporting standards. This communique also includes other relevant news and information relevant to the IAASB’s PIR.

This Communique does not constitute an authoritative pronouncement of the IAASB, nor does it amend, extend or override the ISAs or other of the IAASB’s International Standards.

The International Public Sector Accounting Standards Board (IPSASB) has issued Collective and Individual Services (Amendments to IPSAS 19), which addresses a wide range of significant government expenditures that directly impact the lives of citizens globally.

Last January, the IPSASB issued IPSAS 42, Social Benefits, providing much-needed guidance on accounting for social benefits expenditure. This new guidance complements IPSAS 42 by providing requirements for accounting for collective services (such as defense at national-levels and street lighting at sub-national levels) and individual services (such as healthcare and education). Collective and Individual Services requires that an expense is recognized at the point of service delivery.

IPSASB Chair, Ian Carruthers, said “I am pleased that, with the publication of Collective and Individual Services (Amendments to IPSAS 19), which complements IPSAS 42, Social Benefits, the IPSASB now has a full set of requirements and guidance on accounting for the most important programs of government.”

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.