Improvements are made to existing IPSASs to maintain alignment with IFRSs, as well as other general improvements. The 2010 amendments relate primarily to requirements for recognition, measurement, and disclosure. They do not represent substantive revisions to the content of existing standards.
The 2010 improvements amend existing International Public Sector Accounting Standards (IPSASs). The amendments consist of two parts:
- amendments that are drawn from the IASB document, Improvements to IFRSs issued in April 2009; and
- amendments that relate to inconsistent references to standards, terminology and structure resulting from IPSASB's general review of existing IPSASs.
The amendments generally apply to periods beginning on or after 1 January 2012 and may be early adopted.
“The IPSASB continually reassesses the IPSASs to ensure that they remain relevant to users of public sector financial statements," said IPSASB Chair Andreas Bergmann.
Press release
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