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IPSASB takes first step in establishing a comprehensive measurement framework for the public sector

  • PSAS - IPSASB Image

Apr 30, 2019

On April 30, 2019, the International Public Sector Accounting Standards Board (IPSASB) released a consultation paper "Measurement" that addresses how measurement bases are determined in the public sector.

In an effort to better communicate with its constituents, the IPSASB is testing a new consultation approach. Therefore, the consultation document contains two separate sections:

  • A concepts-based discussion in the consultation paper which
    • lays out proposed guidance for measurement bases for the assets and liabilities most commonly used by public sector entities when applying IPSAS;
    • proposes the development of a single standard which will provide definitions and guidance on the main measurement bases, while other IPSAS will continue to provide guidance on which particular measurement basis is to be used;and
    • identifies areas where the IPSASB has reached preliminary views; and
  • An illustrative exposure draft, which illustrates what a draft IPSAS could look like, given the IPSASB’s preliminary views.

Comments on the consultation paper are requested by September 30, 2019.

Review the following information on the IPSASB's website:

 

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