IPSASB proposals on improvement the international publish sector accounting standards (ED 44)
23 April 2010
The report includes proposed improvements to existing IPSASs to maintain alignment with IFRS. The proposed amendments are related to requirements for recognition, measurement, and disclosure and do not represent substantive revisions to the content of existing standards.
The International Public Sector Accounting Standards Board (IPSASB) today released for comment exposure draft (ED) 44, Improvements to International Public Sector Accounting Standards (IPSASs).
The release continues the IPSASB's improvements project, an annual undertaking intended to enhance the usability of IPSASs and thus facilitate global convergence. The IPSASB uses the improvements project to make non-urgent but necessary amendments to IPSASs.
ED 44 includes proposed improvements to existing IPSASs to maintain alignment with International Financial Reporting Standards (IFRSs), as well as other general improvements. The proposed amendments are related primarily to requirements for recognition, measurement, and disclosure and do not represent substantive revisions to the content of existing standards.
"Financial reporting in the public sector is dynamic," said Andreas Bergmann, IPSASB Chair. "The IPSASB must continually reassess the IPSASs to ensure that they are relevant and up to date and that they are easy to use by preparers of public sector financial statements."
Deadline for comments is 30 June 2010.
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