Improvements to IPSASs 2010

  • Improvements to IPSASs 2010

    Staff

    Ross Smith

    Task Force

    A Staff project.

    Scope

    The project applies to a number of IPSASs.

    Background

    The IASB issued improvements to 12 IFRSs/IFRICs in April 2009. There are 4 IPSASs that need to be updated.

    There are also 4 IPSASs which are the subject of general improvements.

    Task Force progress / Board discussions to date

    November 2010: The IPSASB reviewed responses to the April 2010 Exposure Draft, ED 44, Improvements to IPSASs. The IPSASB approved this Standard for issuance in December 2010, with an effective date of January 1, 2012.

    April 2010: The IPSASB approved Exposure Draft (ED) 44, Improvements to IPSASs. The proposed amendments are in two parts. Part I contains proposed amendments to maintain alignment of existing IPSASs with the relevant IFRSs and arise from the improvements adopted by the IASB in April 2009. Part II contains proposed amendments to improve existing IPSASs. The comment deadline will be June 30, 2010.

    The IPSASB agreed that the IASBs Improvements to IFRSs related to financial instruments standards will be deferred until the IASB has completed its IAS 39 replacement project (IFRS 9).

  •