Prioritising wellbeing outcomes in public accounting, rather than focusing on spending totals, would allow better funding choices to be made and could ultimately save money, according to impact field building network GSG Impact and non-profit Social Value International (SVI).

The two organisations laid out their position in a joint letter responding to a work programme consultation by the International Public Sector Accounting Standards Board (IPSASB), a body that seeks to establish standards for how public bodies around the world should account for their spending.

The IPSASB has already decided on a series of themes and projects to develop as part of its 2024-28 work programme, including increasing adoption and implementation of sustainability reporting standards. The current IPSASB consultation, which closes for public comment on 4 May 2026, is designed to gather views on which topics should be prioritised. 

The letter makes a case for pushing accounting for impact and wellbeing outcomes higher up the work programme agenda. 

Read the full article at Impact Investor: Prioritise wellbeing outcomes in public sector accounting, say impact groups