The project objective is to research and identify issues preparers have when applying IPSAS 17 to infrastructure assets. Informed by this research the aim is to provide additional guidance on accounting for infrastructure assets.
- Marc Wermuth (Chair)
- Francesco Capalbo
- Demi Chung
- John Howard
- Leonardo Nascimento
- Chris Nyong
- Stefan Resch
- June 24 - ED 76, IPSAS 17 Update—Coordination of Cross Cutting Issues
- June 25 - Infrastructure
- July 28 - ED 78, Property, Plant and Equipment
- September 17 & 18 - ED 78, IPSAS 17 Update, Heritage and Infrastructure
The IPSASB decided that infrastructure assets are a subset of property, plant and equipment and considered the characteristics which differentiate them. The IPSASB will agree the infrastructure assets characteristics after analyzing the remaining issues. The IPSASB also considered the issues of depreciation, spare parts and dismantling costs. The IPSASB will continue these discussions at its June meeting.
The IPSASB agreed “networks or systems” and “long useful lives” should be included as characteristics of Infrastructure Assets in IPSAS 17, Property, Plant and Equipment. These characteristics distinguish Infrastructure Assets from general property, plant, and equipment and present complexities in the application and implementation of existing principles in the Standard. Illustrative Examples and/or Implementation Guidance will be developed for September 2020 to help provide clarity.