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IPSASB proposes to delay effective dates

  • PSAS - IPSASB Image

Jul 15, 2020

On July 15, 2020, the International Public Sector Accounting Standards Board (IPSASB) published Exposure Draft 73, 'Covid-19: Deferral of Effective Dates', which proposes to delay the effective dates of recently published standards and amendments by one year to January 1, 2023. The ED is a response to the global COVID-19 pandemic and intended to provide stakeholders with additional implementation time.

The standards and amend­ments affected include: 

  • IPSAS 41, Financial In­stru­ments;
  • IPSAS 42, Social Benefits;
  • Long-term Interests in As­so­ci­ates and Joint Ventures (Amend­ments to IPSAS 36) andPre­pay­ment Features with Negative Com­pen­sa­tion (Amend­ments to IPSAS 41);
  • Col­lec­tive and In­di­vid­ual Services(Amend­ments to IPSAS 19); and
  • Im­prove­ment to IPSAS, 2019.

The Exposure Draft can be accessed on the IPSASB website. Comments are requested by August 15, 2020.

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