This guidance seeks to establish a benchmark for the use of supplementary financial measures, in order to improve understanding of an organization’s performance among management, investors, and other stakeholders. It provides principles regarding the qualities a measure should have and disclosures that should accompany them if reported externally. Building on the qualitative characteristics of useful financial information, the guidance recommends professional accountants consider a number of attributes when developing and reporting supplementary financial measures.

This Exposure Draft (ED) builds on a consultation paper issued in 2011 and provides good practice guidelines on reporting service performance information. Development of ED 54 reflects the IPSASB’s commitment to addressing public sector-specific reporting issues, including those that relate to information additional to the financial statements.

An At-a-Glance summary provides an overview of the Exposure Draft.

The IAASB is undertaking this consultation to obtain views on its future direction, in order to build on its exiting strong base of standards and address new topics where needed.

The IESBA invites comment from all stakeholders on its Proposed Strategy and Work Plan, 2014-2018.

The Consultation Paper was developed with input from a survey conducted in 2013 and other consultative activities. It lays out four proposed strategic themes to reflect the Ethics Board’s vision for the medium to longer term and to guide its work plan over the five-year period:

The International Accounting Education Standards Board has released for public exposure a proposed revision of International Education Standard (IES) 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements.

The revised standard now focuses on the professional competence requirement for engagement partners who have responsibility for audits of financial statements.

Exposure Draft 53, First-Time Adoption of Accrual Basis International Public Sector Accounting Standards (IPSASs), is a proposed standard applicable to entities that present accrual basis financial statements during the process of adopting and implementing IPSASs, providing exemptions during the transition period.

The International Public Sector Accounting Standards Board (IPSASB) has published Exposure Draft (ED) 52, Disclosure of Interests in Other Entities, as part of its ongoing improvements to International Public Sector Accounting Standards (IPSASs). The EDs propose to update the requirements in IPSASs 6 to 8. 

The International Public Sector Accounting Standards Board (IPSASB) has published Exposure Draft (ED) 51, Joint Arrangements, as part of its on-going improvements to International Public Sector Accounting Standards (IPSASs). The EDs propose to update the requirements in IPSASs 6 to 8. 

The International Public Sector Accounting Standards Board (IPSASB) has published Exposure Draft (ED) 50, Investments in Associates and Joint Ventures, as part of its on-going improvements to International Public Sector Accounting Standards (IPSASs). The EDs propose to update the requirements in IPSASs 6 to 8. 

The International Public Sector Accounting Standards Board (IPSASB) has published Exposure Draft (ED) 49, Consolidated Financial Statements, as part of its ongoing improvements to International Public Sector Accounting Standards (IPSASs). The EDs propose to update the requirements in IPSASs 6 to 8.