Exposure Draft 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS)

Feb 03, 2016 | Exposure Drafts and Consultation Papers
141 Pages

Comments due by: Jul 31, 2016

The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft (ED) 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS™).

The Cash Basis IPSAS has two parts. Part 1 identifies requirements that a reporting entity needs to adopt to claim that its financial statements comply with the IPSAS. It presently includes requirements for preparation of consolidated financial statements and for disclosure of information about external assistance and payments made by third parties.

ED 61 proposes that these requirements be revised, recast as encouragements, and moved into Part 2 of the IPSAS. Part 2 identifies encouraged disclosures that an entity may choose to provide, but which are not required to claim compliance with the IPSAS.

The ED also proposes amendments to ensure that the existing requirements and encouragements of the Cash Basis IPSAS are better aligned with the equivalent accrual IPSAS, unless there is a reason to deviate as a result of adopting the cash basis of accounting. 

An At a Glance summary document provides an overview of the Exposure Draft and a marked-up version of the Cash Basis IPSAS reflects the proposed changes.



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Submitted Comment Letters

1. Accounting Standards Group Chair
May 12, 2016

2. Anand Heeraman  (Canada)
June 23, 2016

3. Swiss Public Sector Financial Reporting Advisory Committee  (Switzerland)
June 28, 2016

4. CPA Ireland  (Ireland)
July 11, 2016

July 14, 2016

6. ICAEW  (United Kingdom)
July 15, 2016

7. CIPFA  (United Kingdom)
July 18, 2016

8. International Consortium on Government Financial Management (ICGFM)
July 19, 2016

9. KPMG  (South Africa)
July 20, 2016

10. Office of the State Auditor-General for Local Governments, Ekiti State  (Nigeria)
July 22, 2016

July 29, 2016

July 30, 2016

13. Deloitte
August 1, 2016

14. Institute of Certified Public Accountants of Kenya  (Kenya)
August 2, 2016

15. Muhammad Hadidjaja  (Indonesia)
August 3, 2016

16. ACCA
August 4, 2016

17. The Malaysian Institute of Certified Public Accountants (MICPA)  (Malaysia)
August 15, 2016

18. World Bank Group
February 1, 2017


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