The International Public Sector Accounting Standards Board (IPSASB) is the international independent board that develops International Public Sector Accounting Standards (IPSASs). The IPSASB's operations are facilitated by the International Federation of Accountants (IFAC).
The Public Interest Committee (PIC) was created in 2015 following a public consultation, to ensure that the public interest is served by IPSASB in its standard setting activities.
The PIC provides recommendations on the terms of reference of the IPSASB; the arrangements for nomination and appointment of IPSAB members; and procedures and processes for formulation of the IPSASB’s strategy and work plan, and development of IPSASs. The functions of the PIC are defined in its Terms of Reference.
The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information. It is currently composed of four members and is assisted by a secretariat.
The PIC meets at least annually to form recommendations and review progress against previous advice.