The IPSASB added Differential Reporting to its work program in March 2022, based on constituent responses to the 2021 Mid-Period Work Program Consultation. The aim of the project was to explore the potential development of an international differential reporting model. The first stage of any major standard-setting project is to conduct research and scoping activities.
On January 1, 2024, the International Ethics Standards Board for Accountants (IESBA) welcomed three new members following their appointments by the Public Interest Oversight Board (PIOB) in November 2023.
Tomoyo Imura (Japan), Director, Member of the Board, and Member of the Audit & Supervisory Committee, Nomura Asset Management Co. Ltd.
"I am honored to join the IESBA,’ said Ms. Imura. “I am eager to contribute to the enhancement of the IESBA standards, adapting them to the evolving global landscape. I firmly believe that maintaining an ethical mindset will be increasingly vital in the future."
“'The societal expectations from today’s sustainability and technology-driven world of business and finance to have higher standards of ethics and integrity are rising,” said Mr. Singh. “The relevance of ethics in the financial world deserves center stage and needs greater public discourse. IESBA is playing a pivotal role in this space. It is a privilege to join the IESBA’s Board and contribute to its public interest work.”
David Wray (France), retiring from Huawei, Global Finance, and current Board Member, International CFO Alliance (ICFOA)
“It is a genuine privilege to join IESBA at this important time of profound change for the accountancy profession and its global community of stakeholders,” said Mr. Wray. “From the connectivity and digitalization of financial and sustainability information to technologies that stand ready to fundamentally change what we do as finance and audit professionals and how we do it, it is truly a once-in-a-lifetime experience to be part of this exciting journey. As an international finance leader, I look forward to helping shape the global profession and ensuring a transparent, connected, equitable, and level playing field for everyone globally, underpinned by the IESBA Code.”
The IESBA also welcomes the reappointments of:
Saadiya Adam (South Africa), Senior Professional Manager for Standards at the Independent Regulatory Board for Auditors (IRBA) in South Africa
Vania Borgerth (Brazil), Retired accountant, a PhD Candidate in Accountancy, Fucape Business School, Brazil; and Deputy Coordinator of International Relations at CBPS, the Brazilian Committee for Sustainability Pronouncements
Sung-Nam Kim (Republic of Korea), Currently a non-partner advisor of EY Korea and a former Executive Auditor of the Korean Institute of Certified Public Accountants (KICPA)
Andrew Mintzer (United States of America) a principal at Hemming Morse LLP, providing forensic accounting services, and
Luigi Nisoli (Italy), Partnerand Director of Independence at Deloitte
“It gives me great pleasure to welcome Tomoyo, Amarjeet, and David to the IESBA, and I congratulate Saadiya, Vania, Sung-Nam, Andy, and Luigi on their reappointments,” said IESBA Chair Gabriela Figueiredo Dias. “The challenges ahead for IESBA are significant as we take on issues of global importance, like ethics in sustainability reporting and assurance, accounting firm culture and governance, and the expansion of the scope of the Code. To meet these challenges, we’ve set aggressive targets and made global commitments. We know the opportunities ahead are great when we lead with ethics. By bringing in three new perspectives, and three new voices, we grow as a Board. By keeping the voices of Saadiya, Vania, Sung-Nam, Andy, and Luigi, we bring continuity and “board” knowledge alongside their valued input and deep understanding of our issues. I look forward to all the diverse and unique insights as they will all add to IESBA’s knowledge base and help guide our strategic thinking.”
The PIOB’s Invitation for Application for IESBA members for terms of service beginning in January 2025 is currently open. The IESBA encourages qualified candidates to apply.
About IESBA
The International Ethics Standards Board for Accountants® (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.
Along with the International Auditing and Assurance Standards Board (IAASB), the IESBA is part of the International Foundation for Ethics and Audit (IFEA). The Public Interest Oversight Board (PIOB) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.
ED 87 proposes adding an authoritative appendix to IPSAS 12, Inventories. The proposed guidance clarifies when to capitalize or expense costs incurred to remove waste material in surface mining operations. ED 87 is aligned with the guidance in IFRIC 20, Stripping costs in the Production Phase of a Surface Mine, with limited changes for the public sector context.
The Consultation is open for public comment until May 31, 2024. Comments must be submitted in English.
ED 86 proposes a standard on accounting for the costs incurred in the exploration and evaluation of mineral resources, based on the selection of an accounting policy specifying which expenditure should be recognized as exploration and evaluation assets. ED 86 is aligned with the private sector requirements in IFRS 6, Exploration for and Evaluation of Mineral Resources, with limited changes for the public sector context.
