The aim of the project is to develop a standard(s) that provides recognition and measurement requirements applicable to providers of non-exchange transactions, except for social benefits.
This project will consider issues related to provision of non-exchange transactions, except for social benefits.
The Task-Based Group consists of:
- Bob Dacey
- Rod Monette
- David Watkins
- Marc Wermuth
The current IPSASB guidance for recognizing provisions and liabilities in respect of non-exchange transactions is provided in IPSAS 19, Provisions, Contingent Liabilities and Contingent Assets. IPSAS 19 was the result of a convergence project and was not developed with non-exchange transactions in mind. This project is consistent with the IPSASBs strategic priority of developing requirements and guidance on public sector specific issues that is consistent with the IPSASB’s Conceptual Framework.
Issues the project will consider include (but are not limited to):
- Scope of the transactions covered by the project, including the definition of non-exchange transactions
- At what point do present obligations and liabilities arise for resource providers
- How should liabilities be measured
- What disclosures should be required