Limited Scope Update of Conceptual Framework


The project objective is to update the Conceptual Framework for a limited number of issues based on the criteria of urgency, consequences, feasibility and prevalence with a particular emphasis on the first three of these criteria.

Current Status of the Project

ED 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements.

The IPSASB completed its review of responses to ED 76 at the September 2022 meeting. In light of the continuing development of current operational value the IPSASB decided not to include replacement cost in an updated Chapter 7. The IPSASB also decided to retain the approach to value in use in ED 76 whereby value in use is discussed in the context of impairment but not defined.

Staff presented a regional, functional, and linguistic breakdown of the 27 respondents to ED 81, Conceptual Framework Update: Chapter 3, Qualitative Characteristics and Chapter 5, Elements. Staff also indicated the approach to considering the eight Specific Matters for Comment in the ED.

Project Contact

Board Sponsor


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.