The International Public Sector Accounting Standards Board (IPSASB^®) has issued Request for Information, Concessionary Leases and Other Arrangements Similar to Leases.

The Request for Information will provide the IPSASB with further information on the issues that need to be considered in accounting for concessionary leases and other arrangements similar to leases that are quite common in the public sector. This will then allow the IPSASB to determine the nature and extent of the additional guidance required in phase two of the Leases project.

The International Public Sector Accounting Standards Board^® (IPSASB^®) has issued Exposure Draft 75, Leases.

ED 75 proposes an IFRS 16, Leases aligned model for lease accounting in the public sector.

This Exposure Draft proposes the addition of non-authoritative guidance to IPSAS 5, Borrowing Costs. 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.

The IPSASB has published Exposure Draft 73, Covid-19: Deferral of Effective Dates, which proposes to delay the effective dates of recently published Standards and Amendments to IPSAS by one year to January 1, 2023. 

To ensure that International Standards on Auditing (ISAs) continue to provide a foundation for high-quality global audits, the IAASB Exposure Draft, ISA 600 (Revised), Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors), proposes more robust requirements and enhanced guidance that:

The IAASB is consulting on its draft non-authoritative EER Guidance in the second phase of its EER Assurance project.

Public input is requested by July 13, 2020.

EER encapsulates many different forms of reporting including, but not limited to, integrated reporting, sustainability reporting and other reporting by entities about financial and non-financial matters, including environmental, social and governance matters, related to an entity’s activities.

The aim of Exposure Draft (ED) 72 is to develop a standard that provides recognition and measurement requirements applicable to providers of transfer expenses. This ED is part of a suite of three EDs that address how to account for revenue and transfer expenses, and should be read in conjunction with:

The aim of Exposure Draft (ED) 71 is to develop a standard that provides recognition and measurement requirements for revenue transactions that do not have performance obligations. This ED is intended to update IPSAS 23, Revenue from Non-Exchange Transactions (Taxes and Transfers). This ED is part of a suite of three EDs that address how to account for revenue and transfer expenses, and should be read in conjunction with:

The aim of Exposure Draft (ED) 70 is to develop a standard that provides recognition and measurement requirements for revenue transactions with performance obligations. This ED is part of a suite of three EDs that address how to account for revenue and transfer expenses, and should be read in conjunction with: