The Public Interest Committee (PIC) and the International Federation of Accountants (IFAC) have announced the establishment of a search committee to select the next chair of the International Public Sector Accounting Standards Board (IPSASB) for an initial three-year term starting on January 1, 2026. The appointee will succeed Ian Carruthers, IPSASB chair since 2016.

The search committee will be chaired by Vinod Rai, who served as the 11th comptroller and auditor general of India, and the chairman of the UN panel of external auditors. Rai has been recognised for strengthening public sector accountability and his legacy includes setting high standards for financial management and improvements in governance practices.

The Search Committee includes the following members:

  • Fergal Costello, Ireland, Principal, Department of Public Expenditure
  • Assietou Sylla Diouf, Togo, global managing director, Integrate Health
  • Davit Gamkrelidze, Georgia, head of the State Treasury
  • Heather Taylor, Canada, EY partner, Climate Change & Sustainability Services

The search committee will start its work in early September and plans to issue its call for applications for the next IPSASB chair by mid-November 2024.

Rai said: “Strengthening the public sector to ensure sustainable and strong economic growth is my lifelong passion and career. I am honored by the opportunity to lead the search for this key position working with such esteemed colleagues from around the globe.”

PIC co-chair, Jon Blondal, added: “The standards promulgated by the IPSASB have contributed greatly to the advancement of accrual accounting and modernising public financial management around the world. We look forward to the work of the search committee in identifying the next chair of the IPSASB.”

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IFAC chief executive officer, Lee White, concluded: “With the timely broadening of the IPSASB’s scope to include sustainability reporting, the IPSASB’s next chair will be vital in continuing this development, which IFAC strongly supports. IPSASB’s standards are crucial to effective public sector financial management and strong and sustainable public sector organisations. I am confident that the independent search committee, led by Rai, will find a strong chair to continue the legacy built by Carruthers and his predecessors.”