IPSASB publishes exposure draft on arrangements conveying rights over assets
02 Apr 2024
As part of phase two of its project on leases, the International Public Sector Accounting Standards Board (IPSASB) has released an exposure draft (ED) proposing additional amendments complementing the proposed amendments on leases released in January 2023.
ED 88 Arrangements Conveying Rights over Assets proposes amendments to IPSAS 47 Revenue and IPSAS 48 Transfer Expenses. The proposed amendments to IPSAS 47 are consistent with the principles already exposed in ED 84 Concessionary Leases and Right-of-Use Assets In-kind (Amendments to IPSAS 43 and IPSAS 23) that were strongly supported by stakeholders. Additionally, ED 88 proposes illustrative examples to accompany IPSAS 47 and IPSAS 48 on other types of arrangements conveying rights over assets that are common in the public sector. Feedback to both ED 88 and ED 84 will inform the final pronouncement on other lease-type arrangements.
Comments on the exposure draft are requested by 31 May 2024. Please click for additional information and access to the drafts in the press release on the IPSASB website.
