Role and objective
The Global Public Policy Committee (GPPC) brings together senior partners from the six large international accounting networks (BDO, Deloitte, EY, Grant Thornton, KPMG and PwC).
GPPC is focused on professional matters of global scope deemed to be priorities by their respective networks’ CEOs, such as the enhancement of quality in auditing and corporate reporting. The GPPC’s primary objectives are to participate constructively in matters concerning global public policy to advance the public interest and to enhance public confidence in the profession.
The GPPC also serves as a forum for communication and constructive dialogue with a number of global stakeholders such as:
- International Forum of Independent Audit Regulators (IFIAR)
- Financial Stability Board (FSB)
- Monitoring Group (MG)
- International Federation of Accountants (IFAC)
The GPPC has established several standing working groups that are focused on key subject areas, such as:
- Regulatory Working Group (RWG) and European Contact Group (ECG) –Provides the GPPC constructive input on regulatory and standard-setting topics globally and in the EU, respectively.
- Standard-setting Working Group (SSWG) – Engages with regulators and standard-setting bodies to promote high-quality audit, ethics, and independence standards in the public interest.
- Banking Working Group (BWG) and Insurance Working Group (IWG) – Engages policy-makers in the banking and insurance sectors on relevant topics.
Each participating GPPC network appoints two members, who are selected by their CEO to speak on behalf of their GPPC network. The Chair of the GPPC is selected for a two-year term by GPPC member consensus.
To the greatest extent possible, members on the GPPC and its working groups are intended to include all major geo-political regions of the world, as diverse, global perspectives are a critical element to the effectiveness of the GPPC.
The Center for Audit Quality (CAQ), which is based in the United States, serves as an observer to the GPPC.
Recent publication and materials
The GPPC and its working groups have developed various materials including white papers, consultation responses, and guidelines including the following:
- IFRS 17 implementation guide and IFRS 17 companion (January 2020)
- Integrity of business reporting in a digital world (June 2018)
- Implementation of IFRS 9 impairment requirements by banks (June 2016)
- The Auditor’s Response to the Risks of Material Misstatement Posed by Estimates of Expected Credit Losses under IFRS 9
- Independent Auditor Oversight (May 2016)
- Corporate governance (December 2014)