The IAASB approved the new and revised quality management standards and issued these standards on December 17th, 2020. As a result, the IAASB needed to consider conforming and consequential amendments to the IAASB’s Other Standards and the International Framework for Assurance Engagements where they make reference to the extant quality control standards.
Improvements to IPSAS, 2021 includes general improvements and International Financial Reporting Standards® (IFRS®) alignment improvements to IPSAS. General improvements consist of minor amendments to IPSAS identified by stakeholders.
Providing citizens with the information to understand how the tax system works, the rights and obligations of taxpayers, and how citizens can influence the evolution of the tax system, is vital to building public trust in tax systems, a key component in tax morale.
This project addresses general improvements and International Financial Reporting Standards® (IFRS®) alignment improvements to IPSAS. General improvements consist of proposals for minor amendments to IPSAS identified by stakeholders. IFRS alignment improvements consist of proposals for minor amendments to IPSAS sourced from recent IFRS improvements and narrow scope amendment projects.