COA official reappointed to the International Public Sector Accounting Standards Board

Published: 1 October 2021

Commission on Audit (COA) Assistant Commissioner Luzvi P. Chatto, head of the Commission’s Administration Sector, was reappointed as member of the International Public Sector Accounting Standards Board (IPSASB).

Operating under the auspices of the International Federation of Accountants (IFAC), the 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.

Appointees to the IPSASB are selected following a rigorous nominations and interview process involving the IFAC Nominating Committee and IPSASB leadership, overseen by the Public Interest Committee.

“I am grateful for the confidence shown by the IFAC and IPSASB leadership. I feel that my reappointment is a recognition not only of my skills but also of the competence and dedication of the officials and auditors of the Commission who worked together to harmonize Philippine Public Sector Accounting and Auditing Standards with international standards and best practices. Rest assured that we will continue to support the enhancement of these Standards,” said Assistant Commissioner Chatto.

A recipient of the Commission’s Gawad Bilang Katangi-tanging Pinuno in CY 2021, Assistant Commissioner Chatto led COA’s Government Accountancy Sector in the continuous evaluation of the applicability of new and updated IPSAS and their adoption and implementation in the Philippine public sector. She is also a member of the Technical Working Group on Government ePayment and eReceipt Project in which she actively participates in the review of policies on payments and collections of the government through electronic means. She supervised the development, implementation, enhancement and capacity building on the use of computerized systems on accounting and financial reporting, budgeting and auditing for use by various government agencies, including the Electronic New Government Accounting System (eNGAS) and electronic Budget (eBudget) System.

Meanwhile, IPSASB announced that, for the first time, it will have a majority female Board with ten women and eight men beginning 1 January 2022. IPSASB also said its geographic diversity will also increase with new members from China and Saudi Arabia.

“The IPSASB is leading the way with a majority female Board for 2022,” said IPSASB Chair Ian Carruthers in a news release. “Diversity of Board membership is essential to ensure the delivery of high-quality standards that can strengthen public financial management globally. The appointment of new members from the Asia and Middle East regions will also be important to ensuring that our outputs meet the needs of an increasingly diverse group of users,” he added.

Aside from Assistant Commissioner Chatto, Ms. Lynn Pamment of the United Kingdom is also reappointed to the Board. The four new Board members are Mr. Abdullah Al-Mehthil, Saudi Arabia, Ms. Claudia Beier, Switzerland, Mr. Maik Esser-Müllenbach, Germany and Ms. Liang Yang, China.