Apr 18, 2016
IPSASB Publishes Improvements to IPSAS 2015
The International Public Sector Accounting Standards Board (IPSASB) has published Improvements to IPSAS 2015, which sets out amendments to International Public Sector Accounting Standards (IPSAS) for the following:
- Part I: Consequential Amendments Arising from Chapters 1-4 of the Conceptual Framework;
- Part II: General Improvements to IPSAS;
- Part III: IPSAS/Government Finance Statistics Alignment; and
- Part IV: The International Accounting Standards Board's annual improvements and narrow scope amendments projects.
About the IPSASB
The IPSASB develops accounting standards and guidance for use by public sector entities. It receives support (both direct financial and in-kind) from the Government Accounting Standards Board, the Asian Development Bank, the Chartered Professional Accountants of Canada, the South African Accounting Standards Board, the New Zealand External Reporting Board, and the governments of Canada, New Zealand, and Switzerland. The ‘International Public Sector Accounting Standards’ and 'IPSAS' are trademarks of IFAC, or registered trademarks and service marks of IFAC in the US and other countries.
About the Public Interest Committee
The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC) to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.
IFAC 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 more than 175 members and associates in 130 countries and jurisdictions, representing almost 3 million accountants in public practice, education, government service, industry, and commerce.