IPSAS Exposure Draft (ED) 93, Definition of Material (Amendments to IPSAS 1, IPSAS 3, and the Conceptual Framework)

The objective of IPSAS ED 93 is to align the definition of material between the Conceptual Framework and IPSAS Accounting Standards. IPSAS ED 93 proposes to clarify that an entity is required to consider the information needs of primary users instead of other users of general purpose financial reports when applying the concept of materiality. To achieve this, we propose to add ‘primary’ before ‘users’ to the concept of materiality, described in paragraph 3.32 in the Conceptual Framework.

IPSAS ED 93 is open for public comment through July 14, 2025. Comments must be submitted in English.