Half Day Programme with IFAC Public Sector Committee

ITEM 1.4

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IPSASB CONSULTATIVE GROUP AND GUESTS

Proposed Program for Roundtable Discussion

11.00am – 12.30pm, Monday July 3

at Cour des Comptes, 13 Rue Cambon, Paris

The schedule for the roundtable discussion is outlined below.

Attached to this schedule are specific matters under each item that the IPSASB would welcome views on. Participants are also welcome to raise other matters that they consider appropriate. If possible, please advise IPSASB staff () of any additional matters to be raised prior to the meeting. These matters will then be communicated to all participants

A list of Consultative Group members and members of the public gallery who will be in attendance is attached.

Item 1.4 Program for Consultative Group Round Table discussion

IPSASB Paris, July 2006

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IPSASB ROUND TABLE DISCUSSION WITH CONSULTATIVE GROUP MEMBERS AND GUESTS

SPECIFIC MATTERS FOR DISCUSSION

MEETING JULY 3, 2006

11.00am – 12.30pm

1. Welcome – Mr. Philippe Adhémar, Chair, International Public Sector Accounting Standards Board.
2. Accounting for Social Policy Obligations of Governments - (see IPSASB Agenda items 8 and 9).

Agenda item 8 includes the draft ED on accounting for social benefits other than pensions (8.2). The draft ED proposes that there is no obligation to beneficiaries for goods and services, and that the obligation for cash transfers arises when all eligibility criteria are satisfied. The draft ED explains that the amount of the liability will in most cases be the amount of the next payment following satisfaction of the eligibility criteria, but this is subject to the legislation and regulations governing the program in each jurisdiction.

Agenda item 9 includes an extract of a draft ED on state retirement pensions (9.3) and related materials. The extracts of the draft ED reflects a similar approach to that adopted in item 8.2.

The IPSASB would welcome views on the the approach adopted for non-pensions, andwhether such an approach should also be applied to state pensions.

1. Disclosure requirements for recipients of External assistance (IPSASB Agenda item 11).

The IPSASB issued ED24, “Financial Reporting Under the Cash Basis of Accounting - Disclosure Requirements for Recipients of External Assistance” in January 2005 with comments requested by June 15, 2005.

Responses to that ED were mixed with many respondents expressing concern that while the disclosures proposed may be useful in themselves, many jurisdictions which were the recipients of external assistance would find compliance onerous. The IPSASB undertook extensive consultation with its constituents during the latter part of 2005 and, based on that consultation has prepared a new draft ED which reflects the approach adopted for the Cash Basis IPSAS – the draft ED includes minimum required disclosures and additional encouraged disclosures.

The IPSASB would welcome views on the approach adopted and whether the demarcation between required and encouraged disclosures is appropriate.

1. Draft IPSAS “Presentation of Budget Information in Financial Statements” (IPSASB Agenda item 14).

The IPSASB is considering a first draft IPSAS at this meeting (agenda item 14.2). The IPSASB would welcome views on all aspects of the draft IPSAS including the scope of the IPSAS and its proposed requirements to include in the financial statements:

(a)actual information on the budget basis even if the accounting basis and budget basis are different; and

(b)explanations of variances from budget unless included in other reports issued before or at the same time as the financial statements.

1. General discussion of projects that are, or should be, on the IPSASB work program as input for the IPSASB’s discussion of its medium to long term strategy (Agenda item 6.3 and 6.4).

Subject to the availability of time, the IPSASB would welcome observations on other matters on the IPSASB agenda, including the relative priority of an IPSASB Conceptual Framework Project (Agenda item 13), the need for an IPSASB project on service concessions (Agenda item 12) and the discount rate to be adopted for determining the present value of obligations arising from defined benefit plans for public sector employees (Agenda item 10). 6. Concluding remarks from the Chair.

Item 1.4 Program for Consultative Group Round Table discussion

IPSASB Paris, July 2006

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CONSULTATIVE GROUP MEMBERS AND PUBLIC GALLERY IN ATTENDANCE

Item 1.4 Program for Consultative Group Round Table discussion

IPSASB Paris, July 2006