Three new public sector financial instruments standards

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

20 Jan 2010

The International Public Sector Accounting Standards Board (IPSASB) has published three new standards that cover all aspects of the accounting for and disclosure of financial instruments: IPSAS 28 'Financial Instruments: Presentation'; IPSAS 29 'Financial Instruments: Recognition and Measurement'; and IPSAS 30 'Financial Instruments: Disclosures'.

The new standards fill a significant gap in the IPSASB literature. They are drawn primarily from IFRSs but also address a number of public sector-specific issues, including financial guarantee contracts provided for nil or nominal consideration and concessionary loans.

The standards are effective for annual financial statements covering periods beginning on or after 1 January 2013. IPSASs 28-30 may be downloaded without charge from the IPSASB section of IFAC's Publications and Resources Site ( Click for Press release (PDF 28k).


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