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Accounting for sovereign debt restructurings under IPSAS

May 21, 2015

On May 21, 2015, the staff of the International Public Sector Accounting Standards Board (IPSASB) released a short audio podcast and an accompanying publication to highlight how International Public Sector Accounting Standards (IPSASs) reflect the accounting consequences of sovereign debt restructuring transactions.

They both illustrate how IPSASs, at a high level of principle, capture the economic consequences of debt restructurings. The relevant standards (IPSASs 28–30) were developed in 2008 with reference to the IFRS financial instruments standards in place at that time (IAS 32, IAS 39, and IFRS 7); a project to update the standards with reference to the requirements of IFRS 9 has been added to the IPSASB's agenda.

Please click to access the podcast (6 minutes) and the accompanying publication (5 pages) on the IPSASB website.

Please click to access the podcast (6 minutes) and the accompanying publication (5 pages) on the IPSASB website.


Basis for Conclusions – Related Party Disclosures – Section PS 2200

Mar 02, 2015

On March 2, 2015, the Public Sector Accounting Board released this document where it sets out how it reached its conclusions on Section PS 2200.

As well, it sets out significant matters arising from comments received in response to its Exposure Drafts and indicates how the Board dealt with the issues raised.

Download the document.

IAASB - Assurance Image

IAASB Project Update - Enhancing Audit Quality Focusing on Group Audit

Oct 04, 2014

On October 4, 2017, the International Auditing and Assurance Standards Board (IAASB) released a publication prepared by the IAASB Group Audits Task Force to update the issues under consideration in the revision of ISA 600, Special Considerations‒Audits of Group Financial Statements, and other projects that address other international standards, including ISA 220, Quality Control for an Audit of Financial Statements, and ISQC 1, Quality Control for Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements.

This publication also explains the linkages between these projects as they relate to group audit issues.

Review the publication on the IAASB's website.

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