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IPSASB Publishes Exposure Draft 56, The Applicability of IPSASs

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Jul 30, 2015

On July 30, 2015, the International Public Sector Accounting Standards Board (IPSASB) released for comment Exposure Draft (ED) 56, The Applicability of IPSASs.

ED 56 proposes to:

  • Revise the Preface to International Public Sector Accounting Standards to provide the characteristics of public sector entities for which IPSASs are intended;
  • Delete the definition of Government Business Enterprises (GBEs) in IPSAS 1, Presentation of Financial Statements; and
  • Amend the scope section of each International Public Sector Accounting Standard (IPSAS) and Recommended Practice Guideline (RPG) by removing the paragraph that states that these pronouncements do not apply to GBEs.

Read the press release and the exposure draft on the IPSASB's Web site.

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