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The International Public Sector Accounting Standards Board® (IPSASB®) works to improve public sector financial reporting worldwide through the development of IPSAS®, international accrual-based accounting standards, for use by governments and other public sector entities around the world.
FOCUS ON: ADOPTION AND IMPLEMENTATION
SUPPORTING RESOURCES: IPSAS 41, FINANCIAL INSTRUMENTS
SPOTLIGHT ON:
New Blog: IPSASB Widens its Strategic Consultation
IPSASB Technical Director and Deputy Director discuss the Board's strategic consultation process in a new blog for the IMF. Read the full post here!
IPSAS 41, Financial Instruments, Released
IPSAS 41, Financial Instruments, establishes new requirements for classifying, recognizing and measuring financial instruments to replace those in IPSAS 29, Financial Instruments: Recognition and Measurement.
Published in August 2018, IPSAS 41 provides users of financial statements with more useful information than IPSAS 29, by:
- Applying a single classification and measurement model for financial assets that considers the characteristics of the asset's cash flows and the objective for which the asset is held;
- Applying a single forward-looking expected credit loss model that is applicable to all financial instruments subject to impairment testing; and
- Applying an improved hedge accounting model that broadens the hedging arrangements in scope of the guidance. The model develops a strong link between an entity's risk management strategies and the accounting treatment for instruments held as part of the risk management strategy.
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LATEST PUBLICATIONS & RESOURCES
Call for Nominations for the International Public Sector Accounting Standards Board in 2020
IPSASBImprovements to IPSAS, 2018
IPSASB2018 Handbook of International Public Sector Accounting Pronouncements
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