The International Public Sector Accounting Standards Board (IPSASB) has today released for comment Exposure Draft (ED) 74, IPSAS 5, Borrowing Costs – Non-Authoritative Guidance. The ED proposes the addition of non-authoritative guidance to IPSAS 5.

The proposed non-authoritative guidance would add implementation guidance and illustrative examples to IPSAS 5. The new material proposed in ED 74 would clarify how the existing principles for when borrowing costs can be capitalized should be applied in various regularly encountered public sector contexts. No amendments are proposed to the authoritative material in IPSAS 5.

“We undertook this project to address the practical challenges constituents identified in determining which borrowing costs can be capitalized and when,” said IPSASB Chair Ian Carruthers. “This is an important step in enhancing comparability between those public sector entities that capitalize borrowing costs.”

How to Comment
To access the Exposure Draft and its summary At-a-Glance document, or to submit a comment, visit the IPSASB website, www.ipsasb.org. Comments on the Consultation Paper are requested by March 1, 2021. The IPSASB encourages IFAC members, associates, and regional accountancy organizations to promote the availability of this Consultation Paper to their members and employees.

About the IPSASB
The International Public Sector Accounting Standards Board (IPSASB) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

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.

Ian Browne became technical advisor to the Chair of the IPAE in January 2026, nominated by Chartered Accountants Ireland.

Ian Browne is the Director of Education at Chartered Accountants Ireland, where he leads the strategic transformation of professional education for over 8,500 students across the island of Ireland. Since joining the Institute in 2015, Ian has been instrumental in modernising the education framework, overseeing a major syllabus re-launch, and pioneering the shift to digital assessment.

Through Project Athena, Ian has championed the integration of AI driven adaptive learning technologies into the Institute's curriculum and Edtech platform. This platform personalises the educational journey for students, using realtime analytics to tailor content delivery and enhance mastery of complex topics. The adaptive model represents a significant leap forward in professional education, aligning learning outcomes with the evolving needs of the profession. Ian is a passionate advocate for innovation in education.

Ian's background spans both academia and industry. Prior to his current role, he served in academic roles at Dublin Business School and lectured at UCD Smurfit School and Trinity College Dublin in accounting.

Ian holds an MSc in Strategic Management from UCD Smurfit, a BBS in Accounting and Finance, and is a qualified Chartered Management Accountant.

Ronan O’Loughlin has been Director of Education and Training at CAI since 2003.

He qualified as a chartered accountant with KPMG in 1981 and spent many years working overseas in various accounting education projects.  He joined the Institute from the Irish Taxation Institute where he was Director of Education.  

Since joining the Institute Ronan was responsible for the development and enhancement of syllabi, examinations, education programme and training arrangements including alignment with the national education framework, an elective education model and increased international recognition of the Irish ACA.  

Ronan was a previous Technical Advisor to the IFAC Education Board Chair Henry Saville.