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IPSASB Publishes IPSASs on Accounting for Interests in Other Entities

  • PSAS - IPSASB Image

Jan 30, 2015

On January 30, 2015, the International Public Sector Accounting Standards Board published new standards.

These five standards are:

  1. IPSAS 34, Separate Financial Statements;
  2. IPSAS 35, Consolidated Financial Statements;
  3. IPSAS 36, Investments in Associates and Joint Ventures;
  4. IPSAS 37, Joint Arrangements; and
  5. IPSAS 38, Disclosure of Interests in Other Entities.

They will replace current requirements in:

  1. IPSAS 6, Consolidated and Separate Financial Statements;
  2. IPSAS 7, Investments in Associates; and
  3. IPSAS 8, Interests in Joint Ventures.

The IPSASB has developed IPSASs 34-38 so that convergence with the related IFRS (including IFRS 10-12) is maintained to the extent appropriate.  IPSAS 34-38 are effective for annual financial statements covering periods beginning on or after January 1, 2017. Earlier application is encouraged.

Read the press release.

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