IPSASB Completed Projects

 

Leases

The objective is to issue a new IPSAS on Leases which will be converged with IFRS 16, Leases, to the extent appropriate. The intermediate objective is to produce an Exposure Draft of proposed new IPSAS on Leases.

Current Status of the Project

The IPSASB approved IPSAS 43, Leases with an effective date of January 1, 2025

Read More

Public Sector Specific Financial Instruments

To develop additional accounting guidance to clarify the requirements for classifying, recognizing, and measuring public sector specific financial instruments

PROJECT CONTACT

Read More

Non-current Assets Held for Sale and Discontinued Operations

The project’s objective is to develop an IPSAS aligned with IFRS 5, Non-current Assets Held for Sale and Discontinued Operations.

Current Status of the Project

The IPSASB approved IPSAS 44, Non-current Assets Held for Sale and Discontinued Operations with an

Read More

Improvements to IPSAS, 2021

This project addresses general improvements and International Financial Reporting Standards® (IFRS®) alignment improvements to IPSAS. General improvements consist of proposals for minor amendments to IPSAS identified by stakeholders. IFRS alignment improvements consist of proposals for minor amendments to IPSAS sourced from recent IFRS improvements and narrow scope

Read More

Social Benefits

Governments and public sector entities provide constituents with social benefits, usually in non-exchange transactions. The objective of the project is to identify the circumstances and manner in which expenses and liabilities of certain social benefits of governments arise. The project will also consider how they should be recognized and measured in the financial statements.

 

Normal 0 false false false EN-AU X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:6.0pt; mso-para-margin-right:0cm; mso-para-margin-bottom:0cm; mso-para-margin-left:0cm; mso-para-margin-bottom:.0001pt; line-height:14.0pt; mso-line-height-rule:exactly; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman","serif"; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-ansi-language:EN-AU; mso-fareast-language:EN-US;}

Read More

PROJECT CONTACT

John Stanford

Strategy and Work Plan 2019-2023

The IPSASB adopted an open and inclusive process throughout the development of the 2019-2023 Strategy and Work Plan. This included discussions and dialogue with different stakeholder groups including: (a) National standard setters (through the Public Sector Standard Setters Forum); (b) Jurisdictions using IPSAS or in the process of adopting and implementing IPSAS; and (c) The IPSASB Consultative Advisory Group (CAG) and the Public Interest Committee (PIC). Based on the consultations and feedback received the IPSASB approved its Strategy and Work Plan 2019-2023 in December 2018. 

To ensure it delivers in the public interest, the IPSASB’s strategic objective is:

Strengthening Public Financial Management (PFM) globally through increasing adoption of accrual-based IPSAS. Delivered through two main areas of activity, both of which have a public interest focus:

  • Developing and maintaining IPSAS and other high-quality financial reporting guidance for the public sector; and
  • Raising awareness of IPSAS and the benefits of accrual adoption.

 The IPSASB will implement its Strategy and Work Plan 2019-2023 through two streams:

  • Delivering global standards by:
    • Setting standards on public sector specific issues;
    • Maintaining IFRS alignment;
    • Developing guidance to meet users’ broader financial reporting needs;
  • Inspiring their implementation by:
    • Promoting IPSAS adoption and implementation; and
    • Advocating the benefits of accrual in strengthening PFM.

The IPSASB’s top standard-setting priorities through 2023 include completing its current public sector specific projects, notably revenue, leases, public sector measurement, heritage and infrastructure, as well as making progress with its new public sector specific projects, including natural resources.

Read More

PROJECT CONTACT

Ross Smith

Financial Instruments Update Project

The objective is to issue a revised IPSAS 29, Financial Instruments: Recognition and Measurement. Additional amendments to IPSAS 28, Financial Instruments: Presentation and IPSAS 30, Financial Instruments: Disclosuresare also expected, however, those amendments are limited compared to the impact on IPSAS 29.

Read More

PROJECT CONTACT

Dave Warren

Employee Benefits (limited scope project)

The objective is to issue a revised IPSAS 25, Employee Benefits which would be converged with the underlying IAS 19, Employee Benefits. The intermediate objective is to produce an Exposure Draft of proposed changes.

Read More

PROJECT CONTACT

João Fonseca

Impairment of Revalued Assets

The objective is to bring property, plant and equipment and intangible assets carried at revalued amounts with the scope of IPSAS 21, Impairment of Non-Cash-Generating Assets, and IPSAS 261, Impairment of Cash-Generating Assets and to clarify that impairments to individual assets within a class of property, plant, and equipment in IPSAS 17, Property, Plant, and Equipment, do not necessitate a revaluation of the entire class to which that impaired asset belongs. 

Read More

PROJECT CONTACT

John Stanford

Cash Basis IPSAS – Limited Scope Review 2015

To make changes to the requirements of the Cash Basis IPSAS dealing with consolidation, external assistance and third party payments that will reduce obstacles to adoption of the IPSAS.

To undertake a high level “housekeeping” review of the IPSAS to ensure that its requirements remain appropriate, including any requirements derived from the equivalent accrual IPSASs.

Read More

PROJECT CONTACT

John Stanford

1234

 

View Open Projects

 

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.

Agree