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IPSASB - Applicability of IPSASs to Government Business Enterprises and Other Public Sector Entities [IPSASB ED]

Comment period ended on December 31, 2014.

Proposed effective date:

Not yet specified

Last updated:

March 2015


Government Business Enterprises (GBEs) are generally commercially oriented entities that can have a significant impact on a government’s financial performance and financial position and are defined in IPSAS 1, Presentation of Financial Statements. GBEs, as defined, are required by the IPSASB to follow IFRSs and not IPSASs.

Feedback to the IPSASB indicates that there are a wide range of entities currently being described as GBEs, some of which clearly do not meet the IPSASB definition.  The purpose of the CP is to consider alternative proposals of the IPSASB to address this situation.

Recent activities:

March 2015

Most recently, at its meeting on March 10-13, 2015, the IPSASB discussed this project and decided that that the definition of a government business enterprise in IPSAS 1 should be deleted and replaced by a high level description of such entities. The IPSASB expects to review an ED of the proposed changes to IPSAS 1 at its meeting in June 2015.

August 2014

On August 27, 2014, the IPSASB issued for public comment a Consultation Paper (CP), The Applicability of IPSASs to Government Business Enterprises and Other Public Sector Entities.

Correction list for hyphenation

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