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IPSASB eNews: June 2020

Jun 30, 2020 | English

The IPSASB held its first ever virtual meeting on June 4, June 23-26 and June 30, 2020. This was the second IPSASB meeting of 2020.

Conceptual Framework - Limited Scope Review

The IPSASB approved a measurement hierarchy distinguishing Measurement Models, Measurement Bases and Measurement Techniques.  

  • Historical Cost, Fair Value, Current Cost and Fulfillment Value (or Cost of Fulfillment) will be defined as bases. 
  • Market Value and Replacement Cost will be defined as techniques. 

The IPSASB will consider additional bases, including Value in Use and Cost of Release, in September. The selection of measurement bases will be linked to the Framework’s measurement objective. 


The IPSASB considered issues raised by constituents related to measurement bases identified in the Measurement Consultation Paper (CP). These foundational discussions, along with those in the related Conceptual Framework project, will shape the draft Measurement Exposure Draft (ED) that will be reviewed in September. 

The IPSASB also discussed the impact of applying the CP Measurement definition of fair value across IPSAS and concluded that no change in terminology is required for the majority of IPSAS where the term fair value is currently applied.


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.  


The IPSASB agreed “irreplaceable,” “restrictions,” and “long and sometimes unspecified useful lives” should be included as characteristics of Heritage Assets in IPSAS 17. These characteristics distinguish Heritage Assets from other property, plant, and equipment and present complexities in the application and implementation of existing principles in the Standard. 

The IPSASB also approved the removal of the heritage assets scope exclusion from IPSAS 17.

Accounting for Non-Current Assets Held for Sale and Discontinued Operations

The IPSASB approved the Project Brief for the project to develop a standard aligned with IFRS 5, Accounting for Non-current Assets Held for Sale and Discontinued Operations. The IPSASB also agreed to add additional public sector disclosure requirements on the fair value of assets classified as held for sale to enhance transparency and accountability.


The IPSASB reviewed the draft Basis for Conclusion related to the history of the Leases project. The IPSASB decided to align with IFRS 16, Leases in the development of Exposure Draft on Leases. However, it also decided to exclude the IFRS 16 manufacturer or dealer lessor requirements because these are not expected to be applicable in the public sector. The IPSASB considered the structure and content of the Request for Information that will be developed for publication together with the Exposure Draft on Leases to gather information on transactions and arrangements similar to leases.

Next Meeting

The next meeting of the IPSASB will take place in September, 2020. For more information, or to register as an observer, visit the IPSASB website (