The Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities(the Conceptual Framework) will establish and make explicit the concepts that are to be applied in developing International Public Sector Accounting Standards (IPSASs) and other documents that provide guidance on information included in general purpose financial reports (GPFRs).

This memorandum provides background to, and an explanation of, the proposed International Education Standard (IES) 7, Continuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional Competence (Redrafted) approved for exposure by the International Accounting Education Standards Board (IAESB)in November 2010. The current version of IES 7 was published in May 2004 and became effective on January 1, 2006.

This Consultation Paper seeks views on a number of specific issues that require consideration in relation to the IAESB's planned revision of International Education Standard (IES) 8: Competence Requirements for Audit Professionals. These views will also inform the development of implementation guidance for this standard.

The objective of this Exposure Draft is to propose improvements to 12 IPSASs in order to converge with amendments to International Financial Reporting Standards in the IASB's, "Improvements to IFRSs" (issued in May 2008).

The objective of this Exposure Draft is to propose requirements for the recognition and measurement of financial assets, financial liabilities and some contracts to buy or sell non-financial items.

The objective of this Exposure Draft is to propose requirements for the classification of financial instruments, from the issuer's perspective, into financial assets, financial liabilities and net assets/equity, and for presenting financial instruments as liabilities or net assets/equity and for offsetting financial assets and financial liabilities.