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Supporting Resources: Measurement Suite of Exposure Drafts (ED 76, ED 77, ED 78, ED 79)

The IPSASB has released four Exposure Drafts (EDs) for public comment:

ED 76 proposes to update the Conceptual Framework for global developments and experience in applying the Framework since its publication in 2014. EDs 77-79 enhance the level of guidance in IPSAS and substantially improve the consistency of requirements and guidance on measurement across IPSAS.

Comments are requested by October 25, 2021.


This suite of four EDs are published together to highlight for respondents the common measurement principles proposed and the ways they are applied consistently throughout the draft guidance. The four EDs address several key conceptual challenges and practical implementation issues identified by the public sector community by introducing:

  • Straight-forward measurement principles, by way of a measurement hierarchy, that apply throughout IPSAS and align with the Conceptual Framework; 
  • Enhanced guidance clarifying the recognition and measurement of infrastructure and heritage assets that are Property, Plant, and Equipment; and 
  • A standard that fills a gap for assets held for sale and discontinued operations.


ED 76 streamlines the measurement principles in the Conceptual Framework by eliminating unused measurement bases and enhancing focus on those that are commonly used. The ED proposes a clear measurement hierarchy to help stakeholders apply the principles in practice and aligns measurement concepts with the guidance provided in IPSAS. 

ED 77 proposes new guidance in a single standard which addresses how commonly used measurement bases are applied in practice. It brings in generic guidance on fair value for the first time, and it proposes a public sector specific current value measurement basis to respond to stakeholder views that a new measurement basis is required as an alternative to fair value for assets held for their operational capacity.

ED 78 updates IPSAS 17, Property, Plant, and Equipment by adding general measurement guidance and measurement options when accounting for assets within its scope, identifying the characteristics of heritage and infrastructure assets, and proposing new guidance on how these important types of public sector assets should be recognized and measured. 

ED 79 is aligned with IFRS 5, Non-Current Assets Held for Sale and Discontinued Operations and proposes new guidance how to account for non-current assets that are classified as held for sale, when they meet specific criteria.


This package of EDs addresses a range of conceptual challenges and practical concerns identified by the IPSASBs constituents. The EDs propose consistent measurement principles to be applied throughout IPSAS. This is a step forward from the guidance that is currently included in each IPSAS. This enhances the consistency of IPSAS and facilitates their application. The underlying concepts and guidance proposed in this suite of EDs will underpin the IPSASB’s approach to measurement for many years.


The underlying concepts and guidance proposed in this suite of EDs will underpin the IPSASB’s approach to measurement for many years. It is essential the IPSASB hears the views of respondents on the guidance proposed in these EDs.

Please provide your comments on these EDs by October 25, 2021.