The IPSASB's current cash basis standard was published in January 2003. It establishes requirements for the preparation and presentation of a statement of cash receipts and payments and supporting accounting policy notes. It also includes encouraged disclosures that enhance the cash basis report.

In an exposure draft published in February 2016, the IPSASB proposed to revise certain requirements and to recast them as encouragements. The draft also proposed amendments to ensure that the existing requirements and encouragements of the standard are better aligned with the equivalent accrual IPSAS, unless there is a reason to deviate as a result of adopting the cash basis of accounting.

These proposals have now been finalised and the preparation of consolidated financial statements, the disclosure of information about external and other assistance, and the disclosure of information about payments made by third parties are now voluntary and not longer mandatory.

The new IPSAS takes effect on 1 January 2019, with earlier adoption encouraged. Please click to access the press release and the new IPSAS on the IPSASB website.