Four new public sector exposure drafts

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

13 Oct 2005

The International Public Sector Accounting Standards Board (IPSASB) has issued four exposure drafts.

Two relate to convergence with IFRSs and two are aimed at increasing the transparency of government financial statements:
  • ED 25 Equal Authority of Paragraphs in IPSASs, proposes amendments to the Preface to International Public Sector Accounting Standards (IPSASs) to clarify that all paragraphs in the IPSASs have equal authority.
  • ED 26 Improvements to International Public Sector Accounting Standards. ED 26 proposes updates to 11 IPSASs to converge with the equivalent IFRSs issued by the IASB in December 2003 as part of the IASB's 'improvements project'. We had previously reported on ED 26 in our news story of 28 September 2005.
  • ED 27 Presentation of Budget Information in Financial Statements.
  • ED 28 Disclosure of Financial Information about the General Government Sector.
IPSASs are based on IFRSs to the extent appropriate, and business activities of governments must follow IFRSs directly. The EDs may be downloaded from the IPSASB Web Page on IFAC's Website. Comments on EDs 25 and 26 are requested by 31 January 2006. Comments on EDs 27 and 28 are requested by 10 February 2006. Click for:

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