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IPSASB publishes exposure draft relating to conceptual framework for public sector entities

  • IPSASB (International Public Sector Accounting Standards Board) (mid gray) Image

02 May 2011

The International Public Sector Accounting Standards Board (IPSASB) has released for comment an exposure draft (ED), Key Characteristics of the Public Sector with Potential Implications for Financial Reporting.

The paper provides background on issues affecting the development of a conceptual framework for public sector entities and standard setting. In particular, it highlights that public sector entities are likely to depend upon taxation rather than commercially generated profits for their continued existence, and have governance arrangements that generally involve a legislative body holding an executive to account.

Comments on the exposure draft close on 31 August 2011. Click for the IPSASB announcement (link to IFAC website).

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