Exposure Draft (ED) 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements
IPSASB
Apr 22, 2021 | Exposure Drafts and Consultation Papers
English
Comments due by: Oct 25, 2021
The International Public Sector Accounting Standards Board® (IPSASB®) has issued Exposure Draft (ED) 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements.
ED 76 proposes a measurement hierarchy to steer the IPSASB in developing standard-level measurement guidance and to help stakeholders apply the principles in practice.
The ED streamlines the measurement guidance in the Conceptual Framework by eliminating measurement bases that have not been used in the development of standards, inserts new or revised measurement bases, and focuses on those bases that are commonly used. It therefore aligns measurement concepts with the guidance in IPSAS.
This ED is part of a suite of four EDs that address how to measure assets and liabilities in the public sector, and should be read in conjunction with:
- ED 77, Measurement
- ED 78, Property, Plant, and Equipment
- ED 79, Non-Current Assets Held for Sale and Discontinued Operations
Supporting Resources have been developed to support constituents respond to this suite of EDs.
Copyright © 2022 The International Federation of Accountants (IFAC). All rights reserved.
Submitted Comment Letters
1. Accrual Accounting Center, Saudi Arabia (Saudi Arabia)
September 30, 2021
2. Australasian Council of Auditors-General
September 30, 2021
3. ALLENS, ALOZIE & CO (CHARTERED ACCOUNTANTS)
October 11, 2021
4. Swiss Public Sector Financial Advisory Committee (Switzerland)
October 11, 2021
5. CNoCP (France)
October 18, 2021
6. The New Zealand Treasury
October 20, 2021
7. XRB
October 21, 2021
8. Valuology
October 21, 2021
9. CPA Australia and Chartered Accountants ANZ
October 22, 2021
10. Task Force IRSPM A&A SIG, CIGAR Network, EGPA PSG XII
October 22, 2021
11. IDW - Institut der Wirtschaftsprüfer e.V. (Germany)
October 22, 2021
12. Kalar Consulting
October 23, 2021
13. Australian Accounting Standards Board
October 24, 2021
14. The Malaysian Institute of Certified Public Accountants (MICPA) (Malaysia)
October 24, 2021
15. Public Sector Accounting Standards Board Kenya (Kenya)
October 25, 2021
16. The Japanese Institute of Certified Public Accountants (Japan)
October 25, 2021
17. South African Accounting Standards Board (South Africa)
October 25, 2021
18. Public Accountants and Auditors Board (Zimbabwe) (Zimbabwe)
October 25, 2021
19. CPA Uganda
October 26, 2021
20. Malaysian Institute of Accountants (MIA) (Malaysia)
October 26, 2021
21. Focal - Colombia
October 27, 2021
22. Focal - Ecuador
October 27, 2021
23. Focal - El Salvador
October 27, 2021
24. Focal - Guatemala
October 27, 2021
25. Focal - Panama
October 27, 2021
26. Focal - Peru
October 27, 2021
27. Focal - Dominican Republic
October 28, 2021
28. Focal - Uruguay
October 28, 2021
29. FOCAL - Mexico
October 29, 2021
30. FOCAL- Chile
October 29, 2021
31. Office of the Auditor General of Canada (Canada)
October 29, 2021
32. CIPFA
October 30, 2021
33. Chartered Accountancy Academy and Training and Advisory Services (Zimbabwe)
October 31, 2021
34. The Institute of Chartered Accountants of Nigeria (Nigeria)
October 31, 2021
35. Conselho Federal de Contabilidade (Brazil)
November 1, 2021
36. Financial Reporting Council of Nigeria
November 1, 2021
37. Pontificia Universidad Javeriana (Colombia)
November 1, 2021
38. Institute of Certified Public Accountants of Kenya
November 2, 2021
39. Ernst & Young GmbH
November 3, 2021
40. Institute of Chartered Accountants of India (India)
November 3, 2021
41. Public Sector Accounting Board of Canada (Canada)
November 3, 2021
42. Welch LLP
November 12, 2021
43. KPMG
November 15, 2021
44. Accountancy Europe
March 28, 2022
Related Resources
- 2021 HANDBOOK OF INTERNATIONAL PUBLIC SECTOR ACCOUNTING PRONOUNCEMENTS
- IPSASB STRATEGY AND WORK PLAN 2019-2023
- Supporting Resources: Measurement Suite of Exposure Drafts (ED 76, ED 77, ED 78 and ED 79)
- 2016 Handbook of International Public Sector Accounting Pronouncements
- Consultation Paper, Advancing Public Sector Sustainability Reporting