Press Releases/News Alerts
Nov 30, 2010
IPSASB Publishes 2010 Annual Improvements Standard
The International Public Sector Accounting Standards Board (IPSASB) today published Improvements to IPSASs—2010. The publication completes the IPSASB’s improvements project for 2010. The IPSASB’s improvements project is modeled on the IASB’s annual update program. Improvements are made to existing IPSASs to maintain alignment with International Financial Reporting Standards (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 IPSASB continually reassesses the IPSASs to ensure that they remain relevant to users of public sector financial statements," said IPSASB Chair Andreas Bergmann.
Improvements to IPSASs—2010 is available to download free of charge from the IPSASB section of IFAC's Publications and Resources site (web.ifac.org/publications). The IPSASB encourages IFAC members, associates, regional accountancy bodies, and firms to use these materials and to promote their availability to members and employees.
About the IPSASB
The IPSASB (www.ifac.org/publicsector) develops accounting standards and guidance for use by public sector entities. The structures and processes that support the operations of the IPSASB are facilitated by IFAC.
IFAC (www.ifac.org) is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. It is comprised of 164 members and associates in 125 countries and jurisdictions, representing approximately 2.5 million accountants in public practice, education, government service, industry, and commerce.