Rasmimi Ramli is the technical advisor for the Malaysian IPSASB member, Mrs. Nor Yati Ahmad. She was nominated by the Malaysian Institute of Accountants (MIA).
Rasmimi Ramli is Executive Director of Sustainability, Digital Economy and Reporting Division of MIA. She leads the sustainability, digital economy and reporting initiatives in the Institute. She is also responsible for risk management function in MIA. She is a member of the Government Accounting Standards Advisory Committee, a committee that develops the Malaysian Public Sector Accounting Standards (MPSAS) and a member of the Federal Statutory Bodies MPSAS Application Committee. She is also a member of the MFRS Application and Implementation Committee (MAIC) and she sits in various working groups and task forces of the Malaysian Accounting Standards Board (MASB). She was a technical advisor of the IPSASB from 2013 to 2015 and she provided technical assistance to the World Bank Group on IFRS transition projects. Prior to joining MIA, she spent 9 years in audit with major firms in the UK and Malaysia and was an internal auditor with Maxis Berhad.
Rasmimi Ramli is a member of MIA and a fellow member of ACCA. She graduated from University of Wales, Cardiff, UK.
If you are submitting comments between September 28 and October 7, you must do so by emailing the project manager directly. In the case of the Measurement CP, please email DaveWarren@ipsasb.org. In the case of ED 68, please email AmonDhliwayo@ipsasb.org. You will not be able to submit comment letters online during this time.
Updated comment deadlines are reflected on the IPSASB website.
To develop additional accounting guidance to clarify the requirements for classifying, recognizing, and measuring public sector specific financial instruments
The aim of the project is to develop IPSAS for revenue transactions.
The scope of this project is to develop new standards-level requirements and guidance on revenue to amend or supersede guidance that is currently located in IPSAS 9, Revenue from Exchange Transactions; IPSAS 11, Construction Contracts; and IPSAS 23, Revenue from Non-Exchange Transactions (Taxes and Transfers).
The aim of the project is to develop a standard(s) that provides recognition and measurement requirements applicable to providers of transfer expenses, except for social benefits.
Scope
This project will consider issues related to provision of transfer expenses, except for social benefits.
The project’s objective is to develop accounting requirements for heritage assets. A consultation paper (CP) will be developed. That is expected to lead to an exposure draft (ED) of proposed revisions to IPSAS 17, Property, Plant and Equipment (or other IPSASs). A Recommended Practice Guideline may also result.
The objective is to issue a new IPSAS on Leases which will be converged with IFRS 16, Leases, to the extent appropriate. The intermediate objective is to produce an Exposure Draft of proposed new IPSAS on Leases.
The objectives include to (a) issue amended IPSASs with revised requirements for measurement at initial recognition, subsequent measurement and measurement-related disclosure; (b) provide more detailed guidance on the implementation of replacement cost and cost of fulfillment and the circumstances under which these measurement bases will be used; and (c) address transaction costs, including the specific issue of the capitalizing or expensing of borrowing costs.
The project objective is to research and identify issues preparers have when applying IPSAS 17 to infrastructure assets. Informed by this research the aim is to provide additional guidance on accounting for infrastructure assets.
The proposed new Standard will augment existing guidance in IPSAS 41, Financial Instruments, and improves that Standard’s requirements by introducing guidance on:
Monetary gold;
Currency in circulation;
IMF quota subscriptions; and
Special Drawing Rights.
“The topics addressed in this Exposure Draft are unique to the public sector and have a significant impact on government finances,” said IPSASB Chair Ian Carruthers. “The final guidance will ensure users of IPSAS-based financial statements have the information they need about these important items for accountability and decision-making purposes.”
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 December 31, 2019. 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.
Stakeholder comment on Exposure Draft 69 sought by December 31, 2019
