IPSASB exposure draft on financial statement discussion and analysis for the public sector

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03 Apr 2012

The International Public Sector Accounting Standards Board (IPSASB) has published Exposure Draft (ED) 47, 'Financial Statement Discussion and Analysis'.

The material presented in the Exposure Draft is proposed to be developed as an International Public Sector Accounting Standard (IPSAS), with the same level of authority as the accrual based IPSASs.

The proposed new IPSAS Standard would apply to all public sector entities other than government business enterprises. These entities would be required to issue the financial statement discussion and analysis when it issues financial statements.

The financial statement discussion and analysis would be identified clearly, distinguished from the financial statements, and would apply the same qualitative characteristics as govern the preparation of financial statements.

Comments are requested by 31 July 2012.  Click for IPSASB press release (link to IFAC website).

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