15/09/2026
ICAG CEO BRINGS AFRICAN PERSPECTIVE TO GLOBAL IPSASB DISCUSSIONS ON NATURAL RESOURCES AND SUSTAINABILITY REPORTING
The Chief Executive Officer (CEO) of Institute of Chartered Accountants, Ghana (ICAG), E.O. Osae, FCA, has brought a strong African and practical perspective to international discussions on natural resource accounting, public sector reporting and sustainability disclosures.
The CEO moderated a technical session at the AU, AAAG, PAFA and IPSASB Roundtable held in Accra on 14th September 2026, under the theme, “From Standards to Systems: Building Africa’s IPSAS Implementation Architecture for Transparent, Comparable and Trusted Public Financial Reporting.”
The session, titled “IPSASB Explains: IPSAS 51 and IPSASB SRS Standards,” brought together technical experts from the International Public Sector Accounting Standards Board (IPSASB) to examine emerging developments in public sector financial and sustainability reporting and their implications for African countries.
Putting Natural Resources on the Reporting Agenda
A key focus was IPSAS 51, Tangible Natural Resources Held for Conservation, which addresses the accounting and reporting of natural resources managed by governments.
The CEO used the discussion to highlight the complexities African countries face in applying global standards to diverse legal, institutional, environmental and socioeconomic realities, particularly where natural resources involve statutory, customary and community interests.
He also raised practical questions around the accounting treatment of complex ecosystems, environmental degradation, pollution and illegal mining, and how these issues may affect the assessment of public assets and their service potential.
Key Messages from the CEO
• Standards must reflect African realities: Global standards should be translated into practical solutions that take account of Africa’s diverse legal, institutional and socioeconomic environments.
• Natural resources require stronger accountability: Accounting for forests, wetlands, wildlife, water and other natural resources can strengthen transparency, environmental stewardship and evidence based policymaking.
• Connect financial and sustainability reporting: Sustainability information should complement financial reporting and help users understand its impact on public finances, assets, liabilities, risks and long term fiscal sustainability.
• Build integrated reporting systems: Effective implementation requires legislation, appropriate accounting systems, reliable data, technology, professional capacity and collaboration among public institutions.
• Strengthen Africa’s voice: African practitioners and policymakers must have a stronger voice in international standard setting to ensure that global standards are responsive to the continent’s realities.
Sustainability Reporting Takes Centre Stage
The session also examined the emerging IPSASB Sustainability Reporting Standards, highlighting the growing importance of sustainability information in public sector accountability.
For Africa, the issue is particularly significant given the continent’s natural resource wealth and exposure to environmental and climate related challenges. The discussions underscored the need for governments to connect sustainability reporting with public financial management, service delivery and long term fiscal sustainability.
From Standards to Systems
The CEO’s intervention reinforced a central message of the Roundtable: adopting international standards is only the beginning. Countries must build the institutional, technological and professional capacity required to implement them effectively and produce credible, comparable and decision useful information.
E. O. Osae FCA's moderation also demonstrated the value of bringing African practitioners into global standard setting discussions, particularly where international requirements intersect with local realities.
For ICAG, participation in such engagements reflects the Institute’s continuing commitment to connecting international standards with African realities and contributing to a stronger, more transparent and sustainable public sector reporting environment.
The Roundtable forms part of a weeklong public financial management programme in Accra, bringing together African and international stakeholders to strengthen IPSAS implementation, improve public sector financial reporting and enhance Africa’s contribution to global accounting standard setting. The programme ends on 18th September 2026.
International Federation of Accountants
Pan African Federation of Accountants-PAFA
Deloitte
KPMG Ghana
EY
The Global Fund
Controller and Accountant General's Employees Co-operative Credit Union
Association of Women Accountants,Ghana
Ministry of Finance, Ghana
