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The IPSASB considers that reporting service performance information is necessary to meet the objectives of financial reporting, which are to provide information that is useful to users of General Purpose Financial Reports (GPFR) for accountability and decision-making.
IPSASB chair, Andreas Bergmann, stressed: “Service performance information is essential for accountability for the efficient and effective use of resources, service provision, and achievement of public sector entities’ objectives. Service performance reporting can provide financial and non-financial, as well as quantitative and qualitative, information about the achievement of service delivery objectives in the current reporting period, as well as anticipated future service delivery activities and resource needs.”
Various public sector entities around the world currently report service performance information. In practice, such reporting is diverse. The objective of the IPSASB’s service performance information project has been to improve the consistency and comparability of such information across jurisdictions and between entities.
Overall, the Consultation Paper proposes a framework for reporting service performance information. The framework includes information on the scope of the service performance information reported, the public sector entity’s objectives, the achievement of those objectives, and a narrative discussion of the achievement of all the objectives. The Consultation Paper also proposes a standardised service performance information terminology and working definitions to enhance users’ understanding of service performance information reported as outlined in the proposed framework.
The IPSASB encourages IFAC members, associates, and regional accountancy bodies to promote the availability of this consultation paper to their members and employees.