The Applicability of IPSASs

Apr 21, 2016 | Support for Standards & Pronouncements

The Applicability of IPSASs and a revised Preface to International Public Sector Accounting Standards (Preface), change how the International Public Sector Accounting Standards Board communicates the type of public sector entities that it considers when developing an IPSAS or Recommended Practice Guideline (RPG). 

Previously, IPSASs and RPGs have included a definition of a Government Business Enterprise (GBE) and a statement that GBEs apply International Financial Reporting Standards. The definition of a GBE has proved ambiguous in places and difficult for preparers to interpret.

The main amendments:

  • Provide the characteristics of public sector entities for which IPSASs are designed in the revised Preface;
  • Replace the term "GBEs" with the term "commercial public sector entities;"
  • Delete the definition of a GBE in IPSAS 1, Presentation of Financial Statements; and
  • Amend the scope section of each IPSAS and RPG by removing the paragraph that states that these pronouncements do not apply to GBEs.

The At a Glance summary document provides an overview of The Applicability of IPSASs and the revised Preface.

The Applicability of IPSASs


Preface to IPSAS


Preface to IPSAS (Marked-up)


The Applicability of IPSASs: At-a-Glance



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