Four IAS-based IPSAS are approved

  • IPSAS (International Public Sector Accounting Standards) (old) Image

27 May 2001

At its meeting earlier this month, IFAC's Public Sector Committee (PSC) approved four final International Public Sector Accounting Standards that are based on IAS: IPSAS 9, Revenue from Exchange Transactions (based on IAS 18); IPSAS 10, Inventories (based on IAS 2); IPSAS 11, Construction Contracts (based on IAS 11); and IPSAS 12, Financial Reporting in Hyperinflationary Economies (based on IAS 29).

A fifth standard, IPSAS 13, Leases (based on IAS 17) was approved subject to a final editorial review. Click for a copy of the May 2001 Public Sector Committee Update Newsletter (35k PDF). Click for More Info about the PSC.

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