Stakeholder feedback is sought by June 30, 2026
The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft (ED) 95, Improvements to IPSAS Accounting Standards – Volume 10, and ED 96, Definition of an Operation and Recognition of Acquired Liabilities and Contingent Liabilities (Amendments to IPSAS 40) for public comment.
These proposals form part of the IPSASB’s ongoing work to maintain high-quality, globally relevant public sector accounting standards.
Both EDs reflect the IPSASB’s practice of reviewing relevant developments from the International Accounting Standards Board (IASB), which sets accounting standards for the private sector. The IPSASB considers if the private sector guidance is relevant to the public sector and specifically updates the guidance for its use when appropriate and further refines considering stakeholder feedback.
ED 95 proposes minor improvements to accrual basis IPSAS Standards regarding financial instruments, foreign exchange, and consolidated financial statements, as well as editorial clarifications.
ED 96 proposes amendments to the definition of an operation and to the recognition of certain liabilities in IPSAS 40, Public Sector Combinations, which provides guidance on the acquisition or amalgamation of public sector operations.
Public feedback will shape the final improvements to IPSAS Standards. Please submit, in English. Comments for both EDs are due by June 30, 2026.
About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB®) works to improve public sector financial reporting worldwide through the development of IPSAS® Accounting Standards, IPSASB SRS™ Standards, and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS Standards and IPSASB SRS Standards and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC®). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.
About the Public Interest Committee
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.