The International Public Sector Accounting Standards Board (IPSASB) has released for comment Exposure Draft (ED) 56, The Applicability of IPSASs.

The proposed changes contained in this Exposure Draft address constituents’ concerns about the application of International Public Sector Accounting Standard™ (IPSAS™) to public sector entities. Currently, each IPSAS includes a statement that it does not apply to Government Business Enterprises (GBEs), which are expected to be commercially-oriented public sector entities. 

The International Public Sector Accounting Standards Board (IPSASB) has released for comment a Consultation Paper, Recognition and Measurement of Social Benefits.

This Exposure Draft was reposted on 8/20/2015 to correct certain typographical errors*

The International Accounting Education Standards Board™ (IAESB™) has published its Consultation Paper, Guiding Principles for Implementing a Learning Outcomes Approach, and is seeking comments on the proposed guiding principles for implementing a learning outcomes approach.

All stakeholders—in particular, IFAC member bodies, education providers, educators, and those who have experience in implementing a learning outcomes approach—are encouraged to comment on the proposed guiding principles. 

The proposed standard sets out a new framework to guide auditors, other professional accountants in public practice, and professional accountants in business (PAIBs) in deciding how best to act in the public interest when they come across an act or suspected act of non-compliance with laws and regulations. 

This proposed IFAC Member Body Compliance Strategy, 2016-2018 is part of IFAC’s ongoing efforts to promote the adoption and support implementation of international standards in accounting, auditing, ethics, and education and the establishment of related quality assurance and investigation and discipline mechanisms. The proposed strategy incorporates fundamental upgrades to monitoring and reporting mechanisms.

Proposed ISA 800 (Revised), Special Considerations—Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks and Proposed ISA 805 (Revised), Special Considerations—Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement,  New and Revised International Standards on Auditing
Exposure Draft

This Exposure Draft deals with two matters on which professional accountants in business most often seek assistance in practice—their responsibility to produce financial reports that are faithful representations of the economics of transactions, and pressure to breach the fundamental ethical principles.

Among the proposed changes are:

This Consultation Paper seeks input from stakeholders on approaches that could be taken to improve the clarity and usability of the Code, thereby facilitating its adoption, effective implementation, and consistent application.

Among the various matters on which the Ethics Board is consulting are:

The International Public Sector Accounting Standards Board^® (IPSASB^®) has released for comment a Consultation Paper, The Applicability of IPSASs to Government Business Enterprises and Other Public Sector Entities.

Government Business Enterprises (GBEs) are generally commercially oriented entities that can have a significant impact on a government’s financial performance and financial position.

The At-a-Glance summary document provides an overview of the Consultation Paper.