IPSASB Update Ian Carruthers
|
|
- Jonathan McKinney
- 5 years ago
- Views:
Transcription
1 IPSASB Update Ian Carruthers IPSASB Chair 13 th May 2016 Page 1
2 IPSASB update Session outline IPSASB background New governance and advisory arrangements 2015 new standards and consultations Work plan 2016 onwards Conceptual Framework influence Key project overviews Page 2
3 The IPSAS Board and its outputs Independent Standard Setting Board under auspices of IFAC Remunerated Chair (75% WTE) 17 other volunteer board members from around world Sets standards for Public Sector Entities Funding by IFAC (approx 50%) and voluntary contributions from Governments and observer organizations 34 IPSASs (accrual basis) covering main areas of government activity, 1 cash basis standard as stepping stone to accrual 3 Recommended Practice Guidelines (RPGs) Public Sector Conceptual Framework 3
4 Overview of IPSASs IPSASs are high quality global financial reporting standards for application by public sector entities IPSASs deal with transactions and events in general purpose financial statements IPSASs set out recognition, measurement, presentation and disclosure requirements IPSASs on the accrual basis are mainly based on IFRSs but adapted to the public sector context where appropriate IPSASs on unique public sector topics (e.g. Taxation) developed from scratch
5 IPSASB: Rigorous standard-setting process Stakeholder Input Due Process Page 5
6 IPSASs: Convergance with IFRSs IFRS (Private Sector) Terminology Public sector guidance Public sector issues IPSASs (Public Sector) Public sector examples Page 6 Confidential and Proprietary Information
7 IPSASs: Process for considering GFS guidelines Page 7 Confidential and Proprietary Information
8 Governance and Advisory Arrangements (1) Public Interest Committee (PIC) PIC Role: Oversee governance and standard-setting activities World Bank, IMF, OECD, INTOSAI co-chairs 3 meetings to date Reviewed and advised IPSASB on the following: Documentation/enhancements of IPSASB due process and working procedures IFAC & IPSASB on appointments of: IPSASB Chair & Inaugural CAG Chair Members: IPSASB & CAG IPSASB & CAG Terms of Reference Final Standards: Applicability of IPSASs & Improvements to IPSASs 2015 Page 8
9 Governance and Advisory Arrangements (2) Consultative Advisory Group (CAG) CAG Role: Advise IPSASB on key project issues, strategy, work plan Inaugural Chair & Members appointed Composition: 50% Preparers/Users Audit organizations Including Forum of Firms Representative Economic development and regulatory organizations Regulatory organizations Professional Accountancy Bodies Individuals Initial meeting June 2016 in Toronto, Canada Page 9
10 IPSASs: Momentum in adoption Increased adoption and implementation Over 40 Countries apply accrual IPSAS; including South Africa, New Zealand, Switzerland, Russia, Israel, Slovakia, Brazil, Indonesia Some apply it directly (e.g. Switzerland, Austria, Estonia, Lithuania, Chile) Others indirectly through National Standards (e.g. South Africa, Brazil, Indonesia, Malaysia, Spain, New Zealand) Some apply it for lower levels of government, e.g. Prefecture of Tokyo, State of Geneva Entire UN System, OECD, NATO, Interpol and European Commission 10 Page 10
11 IPSASB Strategic Objective onwards Strengthening public financial management and knowledge globally through increasing adoption of accrual-based IPSASs by: Developing high-quality financial reporting standards Developing other publications for the public sector Raising awareness of the IPSASs and the benefits of their adoption Page 11
12 New / revised standards and guidance issued 2015 IPSAS 33, First-time Adoption of Accrual Basis IPSASs (January 2015) IPSAS 34-38, Interests in Other Entities (replacing IPSASs 6-8) (January 2015) RPG 3, Reporting Service Performance Information (March 2015) Page 12
13 Consultations and Exposure Drafts 2015 Final pronouncements approved at March 2016 meeting: Minor Improvements Applicability of IPSASs Responses currently being analysed: Social Benefits CP Exposure Drafts still open for comment: Update of IPSAS 25 Employee Benefits ED 59 (April 30 th ) Public Sector Combinations ED 60 (June 30 th ) Update of Cash Basis IPSAS ED 61 (July 31 st ) Page 13
14 Work programme 2016 onwards Key projects Project Social Benefits Public sector specific IFRS convergence Revenue & Non-Exchange Expenditure x x Financial Instruments x x Heritage Public Sector Measurement (not yet started) Infrastructure Assets (not yet started) Leases (just started) x x x x x Page 14
15 Public Sector Conceptual Framework (1) Preface - Characteristics of the Public Sector that influence Public Sector Accounting Government Finance Statistics Non-exchange Transactions Role as Regulator Role of the approved Budget Characteristics of Assets/Liabs Longevity Page 15
16 Public Sector Conceptual Framework (2) Preface Key Characteristics of Public Sector Phase 1 Role Objectives and Users QCs Reporting Entity Phase 2 Elements and Recognition Phase 3 Measurement Phase 4 Presentation Public Sector Conceptual Framework Page 16
17 Social Benefits Narrower scope of current project Projects Social Benefits Non-Exchange Expenses IPSAS 25 Update Social Assistance Social Security Other Transfers In Kind Collective Goods and Services Employment Related Social Insurance Page 17
18 Social Benefits CP responses on scope and definitions Do you agree with the proposed scope? Do you agree with the definitions? Disagree; 9 Did not Comment; 3 Agree; 18 Disagree; 9 Did not Comment; 3 Agree; 14 Partially Agree; 6 Partially Agree; 10 Page 18
19 Social Benefits Recognition and measurement options Option 1 Obligating Event Approach Option 2 Social Contract Approach Option 3 Insurance Approach Page 19
20 Social Benefits Option 1 potential recognition points Earliest Recognition Point Latest Recognition Point Key Participatory Events Occur Some but not all eligibility criteria may be met Eligibility Criteria Initially Met Eligibility Criteria Met to Receive Next Benefit Eligibility Criteria Met to Receive Next Benefit Claim Approved Eligibility Criteria Met to Receive Next Benefit Claim Approved Payment Date Arrived Key Participatory Events Threshold Eligibility Criteria Eligibility Criteria Met to Receive Benefit Approved Claim Enforceable Claim Requirements to satisfy ongoing eligibility criteria (including revalidation) affect measurement but not recognition Requirements to satisfy ongoing eligibility criteria (including revalidation) affect both recognition and measurement Page 20
21 Revenue and Non-Exchange Expenditure Single CP to address need for symmetry in approach between revenue and expenditure (e.g. grants) Assessment of extent that IFRS15 performance obligation approach can be applied to public sector revenues Residual non-exchange revenue standard as successor to IPSAS 23? Key debate about application of CF Elements definitions Non-exchange expenses outside Social Benefits project e.g. Education, Health and Defence expenditure Consistency / links with Social Benefits and existing IPSASs Page 21
22 Financial Instruments: Coverage and approach Public Sector Specific Financial Instruments 2016 CP will cover monetary authority items (monetary gold, currency and notes in circulation, IMF items) Statutory receivables and payables - Revenue and Non-Exchange Expenditure project Securitization - IPSAS 29 update Recognition and Measurement (update IPSAS 29, considering IFRS 9) ED (Starting June) Page 22
23 Heritage (1) Provide requirements and guidance to replace provisional guidance in IPSAS 17 no asset recognition requirement CP as initial step despite original 2006 CP Proposed Heritage Items definition: Heritage items are items that, because of their rarity, importance and/or significance, are expected to be held for the benefit of present and future generations and preserved indefinitely. They are preserved for many different reasons including, and not limited to, their architectural, agricultural, artistic, cultural, environmental, historical, natural, scientific or technological importance. Page 23
24 Heritage (2) Categories considered based on UNESCO Conventions Cultural property Underwater cultural heritage Intangible cultural heritage Cultural and natural heritage Discussion in terms of CF asset and liability definitions CF used to develop proposals on recognition, measurement and disclosure December 2016 CP approval Page 24
25 Public Sector Measurement (1): CF Measurement Bases Assets Historical Cost Current Value measures Market Value Replacement Cost Net Selling Price Value in Use Liabilities Historical Cost Current Value measures Market Value Cost of Fulfilment Cost of Release Assumption Price Page 25
26 Public Sector Measurement (2) Combined impact on IPSASs of CF and IFRS 13: Measurement requirements not consistent with CF Fair value references inconsistent with IFRS 13 Other key issues: Further Implementation Guidance needed? Transaction costs treatment (including borrowing costs) Consistency with GFS and IVSC guidance Preliminary analysis stage before deciding further steps Task Force to include GFS and IVSC representatives Page 26
27 Questions Discussion & Further Information Visit our webpage Or contact us by IPSASB Chair: iancarruthers@ipsasb.org Technical Director: johnstanford@ipsasb.org Page 27
IPSASB Update Ian Carruthers
IPSASB Update Ian Carruthers IPSASB Chair EPSAS Working Group Rome 22 nd November 2016 Page 1 Proprietary and Copyrighted Information IPSASB progress to date during 2016 Final pronouncements approved to
More informationPublic Sector Accounting International Harmonisation: Benefits and IPSASB s Role
Public Sector Accounting International Harmonisation: Benefits and IPSASB s Role Ian Carruthers IPSASB Chair Rome 12 th October 2017 Page 1 Proprietary and Copyrighted Information Session outline Who are
More information2013/SOM3/EC/PD2/001a. Benefits of IPSAS. Submitted by: International Public Sector Accounting Standards Board
2013/SOM3/EC/PD2/001a Benefits of IPSAS Submitted by: International Public Sector Accounting Standards Board Policy Discussion on International Public Sector Accounting Standards Medan, Indonesia 28 June
More informationLatest developments in IPSASs and GFS harmonisation
Latest developments in IPSASs and GFS harmonisation Ian Carruthers IPSASB Chair IMF Government Finance Statistics Advisory Committee Washington, D.C. 16 th March 2017 Page 1 Proprietary and Copyrighted
More informationIPSASB: Current guidelines in IPSASs for recording PPPs
IPSASB: Current guidelines in IPSASs for recording PPPs Ian Carruthers IPSASB Chair IMF Government Finance Statistics Advisory Committee Washington, D.C. 15 th March 2017 Page 1 Proprietary and Copyrighted
More informationAgenda Item 5: Heritage
Agenda Item 5: Heritage Gwenda Jensen IPSASB Meeting, December 6 9, 2016 Stellenbosch, South Africa Page 1 Proprietary and Copyrighted Information Objective of this Session (1) Review consultation paper
More informationINTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE
INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE 1. Subject Alignment of IPSASs and Public Sector Statistical Reporting Guidance 1.1 The overall objective of this project
More informationHeritage. Develop a consultation paper (CP) on financial reporting for heritage. Project management 1. Instructions Up to December 2016 meeting 6.1.
Meeting: Meeting Location: International Public Sector Accounting Standards Board Washington D.C., U.S.A. Meeting Date: March 7 10, 2017 Heritage Agenda Item 6 For: Approval Discussion Information Project
More informationInternational Federation of Accountants
International Federation of Accountants International Public Sector Accounting Standards Board John Stanford Deputy Director Ian Carruthers IPSASB Member & CIPFA Technical Director OECD Accrual Symposium
More informationPublic Sector Measurement
Public Sector Measurement Gwenda Jensen and John Stanford IPSASB Meeting March 6 9, 2018 New York, USA Page 1 Proprietary and Copyrighted Information Overview Introduction 1. ED, Objective, scope and definitions
More informationSUMMARY OF IASB WORK PLAN AS AT 15 FEBRUARY 2018
SUMMARY OF IASB WORK PLAN AS AT 15 FEBRUARY 2018 Page Standard-setting and Related Projects... 2 Conceptual Framework... 2 Disclosure Initiative Definition of Materiality... 3 Management Commentary...
More informationAgenda Item 12: Public Sector Measurement
Agenda Item 12: Public Sector Measurement David Watkins and Gwenda Jensen IPSASB Meeting Toronto, Canada June 19 22, 2018 Page 1 Proprietary and Copyrighted Information Overview Introduction 1. Flow chart
More informationINTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE
June 2011 Naples, Italy Page 1 of 5 INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE 1. Subject Emissions Trading Schemes 1.1 This project will develop requirements and
More informationIPSASB finalizes its amendments on GBEs In this article, we summarize the amendments the IPSASB recently made on The Applicability of IPSASs.
September 2016 IPSAS Outlook IPSAS issues for public finance management executives Contents Conversation with Kris: public sector accounting in Australia p2 IPSASB finalizes its amendments on GBEs p4 IPSASB
More informationIPSAS Outlook. Highlights from our global IPSAS update webcast. A message from Thomas Müller-Marqués Berger
ey.com/ipsas August 2013 IPSAS Outlook IPSAS issues for public finance management executives Highlights from our global IPSAS update webcast 2 IPSASB publishes RPG 1 and RPG 2 4 IPSASB project update 7
More informationInternational Seminar on Strengthening Public Investment and Managing Fiscal Risks from Public-Private Partnerships
International Seminar on Strengthening Public Investment and Managing Fiscal Risks from Public-Private Partnerships Budapest, Hungary March 7 8, 2007 The views expressed in this paper are those of the
More informationSUMMARY OF IASB WORK PLAN AS AT 14 NOVEMBER 2017
SUMMARY OF IASB WORK PLAN AS AT 14 NOVEMBER 2017 Page Standard-setting and Related Projects... 2 Conceptual Framework... 2 Disclosure Initiative Definition of Materiality... 3 Rate-regulated Activities...
More informationProcess for Considering GFS Reporting Guidelines during Development of IPSASs
IPSASB Policy Paper Exposure Draft February 2014 October 2011 Comments due: February 29, 2012 International Public Sector Accounting Standards Board Process for Considering GFS Reporting Guidelines during
More informationIPSAS - The international financial reporting standards for the public sector
IPSAS - The international financial reporting standards for the public sector Andreas Bergmann, Chair IPSASB 30 May 2013 European Commission Towards implementing European Public Sector Accounting Standards"
More informationPROJECT BRIEF AND OUTLINE
INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE 1. Subject Financial Instruments: Presentation and Disclosure. 2. Project Rationale and Objectives a) Issue identification
More informationEmissions Trading Schemes
Meeting: Meeting Location: International Public Sector Accounting Standards Board Ottawa, Canada Meeting Date: December 2-5, 2013 Agenda Item 3 For: Approval Discussion Information Objective(s) of Agenda
More informationFinancial Reporting for Heritage in the Public Sector
Consultation Paper April 2017 Comments due: September 30, 2017 Proposed International Public Sector Accounting Standard Financial Reporting for Heritage in the Public Sector This document was developed
More informationPROJECT HISTORY. The IPSASB considered an Issues Paper and a draft of sections of a Consultation Paper (CP).
Contact: Ross Smith (rosssmith@ipsasb.org) June 2015 PROJECT HISTORY The IPSASB considered an Issues Paper and a draft of sections of a Consultation Paper (CP). Monetary gold definitions The IPSASB agreed
More informationREVENUE APPROACH TO IFRS 15
Meeting: Meeting Location: International Public Sector Accounting Standards Board Toronto, Canada Meeting Date: June 19 22, 2018 Agenda Item 8 For: Approval Discussion Information From: Amon Dhliwayo REVENUE
More informationNON-EXCHANGE EXPENSES
Meeting: IPSASB Consultative Advisory Group Agenda Meeting Location: Toronto, Canada Meeting Date: June 18, 2018 From: Paul Mason Item 7 For: Approval Discussion Information NON-EXCHANGE EXPENSES Project
More informationConsultation Paper Summary IPSASs and GFS Reporting Guidelines
AT A GLANCE CP, IPSASs and GFS Reporting Guidelines October 2012 Consultation Paper Summary IPSASs and GFS Reporting Guidelines This summary provides an overview of the Consultation Paper, IPSASs and GFS
More informationIFAC IPSASB Meeting Agenda Paper 7.0 December 2011 Brasilia, Brazil Page 1 of 11
IFAC IPSASB Meeting Agenda Paper 7.0 December 2011 Brasilia, Brazil Page 1 of 11 INTERNATIONAL FEDERATION OF ACCOUNTANTS 545 Fifth Avenue, 14th Floor Tel: (212) 286-9344 New York, New York 10017 Fax: (212)
More informationAgenda Item 13.2: IPSAS IFRS Alignment Dashboard
Agenda Item 13.2: IPSAS IFRS Alignment Dashboard João Fonseca, Principal IPSASB Meeting Toronto, Canada June 19 22, 2018 Page 1 Proprietary and Copyrighted Information Agenda Item 13.2 IPSAS IFRS Alignment
More informationPublic Sector Measurement Education Session
Public Sector Measurement Education Session Impact of the Conceptual Framework on IPSASs Agenda Item 6.2.5 Gwenda Jensen IPSASB Meeting March 6 9, 2018 New York, USA Page 1 Proprietary and Copyrighted
More informationPublic Sector Specific Financial Instruments
Meeting: IPSASB Consultative Advisory Group Agenda Meeting Location: Luxembourg, Luxembourg Meeting Date: June 26, 2017 Item 6 For: Approval Discussion Information Public Sector Specific Financial Instruments
More informationComment on the Consultation Paper on Financial Reporting for Heritage in the Public Sector
Austrian Federal Ministry of Finance Johannesgasse 5 A-1010 Vienna Austria Jakob Prammer jakob.prammer@bmf.gv.at The Technical Director International Public Sector Accounting Standards Board International
More informationP O Box 7001 Halfway House 1685 Tel Fax
The Technical Director P O Box 7001 Halfway House 1685 Tel. 011 697 0660 Fax. 011 697 0666 International Public Sector Accounting Standards Board International Federation of Accountants 277 Wellington
More informationInternational Public Sector Accounting Standards (IPSAS) & Nepal Public Sector Accounting Standards (NPSAS)
International Public Sector Accounting Standards (IPSAS) & Nepal Public Sector Accounting Standards (NPSAS) What is IPSAS? Kaushlendra Jha 25 IPSAS refers to International Public Sector Accounting Standards
More informationConsultation Paper: Financial Reporting for Heritage in the Public Sector
12 September 2017 Mr Ian Carruthers Chairman International Public Sector Accounting Standards Board 529 Fifth Avenue New York, NY 10014 USA CPA Australia Ltd ABN 64 008 392 452 Level 20, 28 Freshwater
More informationImplications of International Public Sector Accounting Standards (IPSASs) on County Financial Management Reporting
Implications of International Public Sector Accounting Standards (IPSASs) on County Financial Management Reporting 24 th 26 th April 2013 Jim McFie, Strathmore University Government finances (1) We are
More informationThe Applicability of IPSASs
Exposure Draft 56 July 2015 Comments due: November 30, 2015 Proposed International Public Sector Accounting Standard and Recommended Practice Guideline The Applicability of IPSASs This document was developed
More informationSocial Benefits. Social Benefits. Paul Mason, Principal. IPSASB Meeting September 19-22, 2017 Toronto, Canada
Social Benefits Paul Mason, Principal IPSASB Meeting September 19-22, 2017 Toronto, Canada Page 1 Proprietary and Copyrighted Information Due Process (Agenda Item 5.2.1) Due Process Development of Proposed
More informationNON-EXCHANGE EXPENSES
Meeting: Meeting Location: International Public Sector Accounting Standards Board Toronto, Canada Meeting Date: September 18 21, 2018 From: Paul Mason Agenda Item 6 For: Approval Discussion Information
More informationSUMMARY OF IASB WORK PLAN AS AT 23 AUGUST 2018
SUMMARY OF IASB WORK PLAN AS AT 23 AUGUST 2018 Page Standard-setting and Related Projects... 3 Management Commentary... 3 Rate-regulated Activities... 3 Research Projects... 4 Dynamic Risk Management...
More informationSUMMARY OF IASB WORK PLAN AS AT 18 MAY 2017
SUMMARY OF IASB WORK PLAN AS AT 18 MAY 2017 Page Standard-setting and Related Projects... 2 Conceptual Framework... 2 Disclosure Initiative Materiality Practice Statement... 3 Disclosure Initiative Definition
More informationAgenda Item 6: Leases
Agenda Item 6: Leases João Fonseca Manager, Standards Development and Technical Projects IPSASB Meeting New York, USA March 8-11, 2016 Page 1 Proprietary and Copyrighted Information Objective of Session
More informationIPSASB s Conceptual Framework An Overview
International Federation of Accountants IPSASB s Conceptual Framework An Overview SACL Financial Reporting and Auditing Conference A New Landscape Prof. Dr. Andreas Bergmann Chair IPSAS Board Visiting
More informationIPSAS Outlook IPSAS issues for public finance management executives
ey.com/ipsas July 2014 IPSAS Outlook IPSAS issues for public finance management executives IPSAS adoption in New Zealand - reasons for moving from IFRS to IPSAS Insights into IPSASB s Strategy Consultation
More informationMay 10, By Dear François,
May 10, 2012 Mr. François Lequiller The Director, Directorate D: Government Finance Statistics European Commission- Eurostat D4 GFS Quality Management and Government Accounting Office: Bech B4/401 5, rue
More informationPROJECT HISTORY. A revised draft RPG will be submitted to the IPSASB s March 2015 meeting with a view to approval.
PROJECT HISTORY Contact: Gwenda Jensen (gwendajensen@ipsasb.org) March 2015 The IPSASB approved Recommended Practice Guideline 3 (RPG 3), Reporting Service Performance Information. Approval followed discussion
More informationSUMMARY OF IASB WORK PLAN AS AT 7 NOVEMBER 2018
SUMMARY OF IASB WORK PLAN AS AT 7 NOVEMBER 2018 Page Standard-setting and Related Projects... 3 Management Commentary... 3 Rate-regulated Activities... 4 Research Projects... 5 Business Combinations under
More informationAccountability. Now. Enhancing Public Financial Management in the Public Sector
Accountability. Now. Enhancing Public Financial Management in the Public Sector Vincent Tophoff International Federation of Accountants (IFAC) ACCA Global Public Sector Conference Johannesburg, South Africa
More informationProposed International Public Sector Accounting Standard XX (ED 53) on
2 Meeting Meeting Location: International Public Sector Accounting Standards Board Toronto, Canada Meeting Date: September 16 19, 2013 Agenda Item 2 For: Approval Discussion Information Proposed International
More informationThe Applicability of IPSASs to Government Business Enterprises and Other Public Sector Entities
IFAC Board Consultation Paper August 2014 Comments due: December 31, 2014 The Applicability of IPSASs to Government Business Enterprises and Other Public Sector Entities TREASURY:2765382V1 This Consultation
More informationConsultation Paper Summary: Public Sector Specific Financial Instruments
AT A GLANCE July 2015 2016 Consultation Paper Summary: Public Sector Specific Financial Instruments This summary provides an overview of the Consultation Paper (CP), Public Sector Specific Financial Instruments.
More informationImprovements to IPSAS, 2018
Exposure Draft 65 April 2018 Comments due: July 15, 2018 Proposed International Public Sector Accounting Standard Improvements to IPSAS, 2018 This document was developed and approved by the International
More informationInternational Public Sector Accounting Standard (IPSASs) 1996 to Progress and Status
International Public Sector Accounting Standard (IPSASs) 1996 to 2006 - Progress and Status Paul Sutcliffe Technical Director of the IPSASB from July 2000 to September 2006 Disclaimer - These are the views
More informationAuditing in the Public Sector
Ian Ball CEO International Federation of Accountants European Study Day 10 February, 2012 Brussels, Belgium IFAC Comments on European Commission Proposed Legislation The International Federation of Accountants
More informationPublic Sector Specific Financial Instruments
Meeting: Meeting Location: International Public Sector Accounting Standards Board Toronto, Canada Meeting Date: June 23 26, 2015 Agenda Item 12 For: Approval Discussion Information Objective(s) of Agenda
More informationUNITED NATIONS EDUCATIONAL, SCIENTIFIC AND CULTURAL ORGANIZATION EXECUTIVE BOARD. Hundred and seventy-fifth session
PARIS, 28 July 2006 English & French only UNITED NATIONS EDUCATIONAL, SCIENTIFIC AND CULTURAL ORGANIZATION EXECUTIVE BOARD Hundred and seventy-fifth session Item 33 of the provisional agenda FINANCIAL
More informationFinancial Instruments (Updates to IPSAS 28-30)
Financial Instruments (Updates to IPSAS 28-30) Dave Warren, Manager, Standards Development and Technical Projects Ross Smith, Deputy Director IPSASB Meeting March 6-9, 2018 New York, USA Page 1 Proprietary
More informationAgenda Item 7: Financial Instruments
Agenda Item 7: Financial Instruments Ross Smith, Principal December 6-9, 2016 IPSASB Meeting Stellenbosch, South Africa Page 1 Proprietary and Copyrighted Information Session Outline Project management
More informationWork Program for
CNOCP Work Program for 2016-2017 Contents Topics common to different public entities.. Central Government Accounting Standards Manual. Public Establishments Accounting Standards Manual... Future Local
More informationThe Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities
IFAC Board Final Pronouncement Exposure Draft October 2014 October 2011 Comments due: February 29, 2012 The Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities This document
More informationInfrastructure Assets
Meeting: IPSASB Consultative Advisory Group Agenda Meeting Location: Toronto, Canada Meeting Date: December 4, 2017 Item 6 For: Approval Discussion Information Infrastructure Assets Project summary This
More information4-4-1 Kudan-Minami, Chiyoda-ku, Tokyo , Japan
The Japanese Institute of Certified Public Accountants 4-4-1 Kudan-Minami, Chiyoda-ku, Tokyo 102-8264, Japan Phone: 81-3-3515-1129 Fax: 81-3-3515-1167 Email: hieirikaikei@sec.jicpa.or.jp September 28,
More informationSOCIAL BENEFITS. Meeting objectives Topic Agenda Item. Project management Instructions up to March 2017 meeting 9.1.1
Meeting: Meeting Location: International Public Sector Accounting Standards Board Luxembourg, Luxembourg Meeting Date: June 27 30, 2017 From: Paul Mason Agenda Item 9 For: Approval Discussion Information
More informationA snapshot of GAAP differences between IPSAS and IFRS. April 2013
A snapshot of GAAP differences between IPSAS and IFRS April 2013 Introduction for these governments. Many governments are exploring the adoption of accrual-based accounting frameworks in order to improve
More informationInternational Public Sector Accounting Standard 32 Service Concession Arrangements: Grantor IPSASB Basis for Conclusions
International Public Sector Accounting Standard 32 Service Concession Arrangements: Grantor IPSASB Basis for Conclusions International Public Sector Accounting Standards, Exposure Drafts, Consultation
More informationThe detailed comments to the matters highlighted in the CP are discussed in the Annexure below.
Option 3: Insurance approach is a new approach which recognises and measures social benefits based on insurance accounting. The approach also recognizes a right to future receipts resulting from the provision
More informationFinancial Instruments (Updates to IPSAS 28-30)
Meeting: Meeting Location: International Public Sector Accounting Standards Board Stellenbosch, South Africa Meeting Date: December 6-9, 2016 Agenda Item 7 For: Approval Discussion Information Financial
More informationINTERNATIONAL FEDERATION
ITEM 11.2 page 11.5 INTERNATIONAL FEDERATION OF ACCOUNTANTS 545 Fifth Avenue, 14th Floor Tel: (212) 286-9344 New York, New York 10017 Fax: (212) 286-9570 Internet: http://www.ifac.org DATE: 18 FEBRUARY
More informationPresentation to IAASB
International Financial Reporting Standards Presentation to IAASB Prabhakar Kalavacherla PK, IASB Member Michael Stewart, Director of Implementation Activities June 2013 The views expressed in this presentation
More informationFirst Time Adoption of Accrual Basis IPSASs. Erna Swart Chief Executive Roundtable: Planning for implementation
First Time Adoption of Accrual Basis IPSASs Erna Swart Chief Executive Roundtable: Planning for implementation 1 Benefits of IPSAS Adoption Time and cost required for IPSAS implementation are substantial
More informationReporting on the Long-Term Sustainability of an Entity s Finances
IFAC Board Final Pronouncement July Exposure 2013 Draft October 2011 Comments due: February 29, 2012 RPG 1 Recommended Practice Guideline Reporting on the Long-Term Sustainability of an Entity s Finances
More informationRe: International Public Sector Accounting Standards Board (IPSASB) Consultation Paper - Financial Reporting for Heritage in the Public Sector
F>, ( ni!m I i i i! rf,> \ 11 s ; K \! \ S I \ \ ^ ',!IIS! l:m ^. 1> [ S< I i< S Mr lan Carruthers Chair International Public Sector Accounting Standards Board 26 September, 2017 Re: International
More informationSUMMARY OF IASB WORK PLAN AS AT 5 NOVEMBER 2013
SUMMARY OF IASB WORK PLAN AS AT 5 NOVEMBER 2013 Major IFRSs... 3 IFRS 9, Financial Instruments (FI) (IAS 39 replacement)... 3 Insurance Contracts... 4 Leases... 4 Rate-Regulated Activities... 5 Revenue
More informationMARCH 31, 2018 IPSASB EXPOSURE DRAFT 63: SOCIAL BENEFITS RESPONSE MANJ KALAR
MARCH 31, 2018 IPSASB EXPOSURE DRAFT 63: SOCIAL BENEFITS RESPONSE MANJ KALAR Manj has over 20 years experience working in public sector, focusing on implementation of accrual accounting across UK central
More informationInternational Public Sector Accounting Standard 23 Revenue from Non-Exchange Transactions (Taxes and Transfers) IPSASB Basis for Conclusions
International Public Sector Accounting Standard 23 Revenue from Non-Exchange Transactions (Taxes and Transfers) IPSASB Basis for Conclusions International Public Sector Accounting Standards, Exposure Drafts,
More informationPublic Sector Combinations
Exposure Draft 60 January 2016 Comments due: June 30, 2016 Proposed International Public Sector Accounting Standard (IPSAS ) Public Sector Combinations This document was developed and approved by the International
More informationIFAC IPSASB Meeting Agenda Paper 7.0 November 2010 Jakarta, Indonesia Page 1 of 9
IFAC IPSASB Meeting Agenda Paper 7.0 November 2010 Jakarta, Indonesia Page 1 of 9 INTERNATIONAL FEDERATION OF ACCOUNTANTS 545 Fifth Avenue, 14th Floor Tel: (212) 286-9344 New York, New York 10017 Fax:
More informationAgenda Item 5: Social Benefits
Agenda Item 5: Social Benefits Paul Mason, Principal IPSASB Meeting September 18 21, 2018 Toronto, Canada Page 1 Proprietary and Copyrighted Information Scope and Definitions (Agenda Item 5.2.1) Social
More informationEPSAS Working Group To be held in Lisbon on April 2017, starting at 09:30
EUROPEAN COMMISSION EUROSTAT Directorate C: National Accounts, Prices and Key Indicators Task Force EPSAS EPSAS WG 17/03 Luxembourg, 15 March 2017 EPSAS Working Group To be held in Lisbon on 26-27 April
More informationREVENUE. Meeting objectives Topic Agenda Item. Project management Decisions up to SEPTEMBER 2018 Meeting
Meeting: Meeting Location: International Public Sector Accounting Standards Board Kuala Lumpur, Malaysia Meeting Date: December 4 7, 2018 From: Amon Dhliwayo Agenda Item 10 For: Approval Discussion Information
More informationComments on Exposure Draft 63 Social Benefits
The Japanese Institute of Certified Public Accountants 4-4-1 Kudan-Minami, Chiyoda-ku, Tokyo 102-8264, Japan Phone: +81-3-3515-1129 Fax: +81-3-3515-1167 Email: hieirikaikei@sec.jicpa.or.jp March 27, 2018
More informationTable 1 IPSAS and Equivalent IFRS Summary 2
Agenda Item 1.7 IPSAS IFRS Alignment 1 Dashboard Table 1 IPSAS and Equivalent IFRS Summary 2 IPSAS IFRS Status IPSAS IFRS Status IPSAS IFRS Status 1, Presentation of Financial Statements IAS 1 18, Segment
More informationED 57, Impairment of Revalued Assets
Meeting: Meeting Location: International Public Sector Accounting Standards Board Toronto, Canada Meeting Date: September 22-25, 2015 Agenda Item 4 For: Approval Discussion Information Impairment of Revalued
More informationIPSASs, IFRSs and ISAs Up-dates
IPSASs, IFRSs and ISAs Up-dates NBAA: Seminar for audit firms 5 August 2017 Ignorantia juris non excusat 2016 KPMG International Cooperative ( KPMG International ). KPMG International provides no client
More informationTransitioning from Cash to Accrual. Presenter: Peter Murphy AFRITAC South, IMF 1 March 2017
Transitioning from Cash to Accrual Presenter: Peter Murphy AFRITAC South, IMF 1 March 2017 Topics of this presentation Accrual Accounting? IPSASs - Cash or accrual? What does Accrual IPSAS implementation
More informationAccounting and Auditing Standards Update
Accounting and Auditing Standards Update reflecting developments from May 2013 to August 2013 Standards Developments In Brief Financial reporting 3 Audit and Assurance 4 ANNEX A: Activity Summary Financial
More informationIFAC Public Sector Committee. Standards Project Update
DPEPA/DESA Workshop on Financial Management Roma November 2001 IFAC Public Sector Committee Standards Project Update Presented by John Stanford Assistant Director CIPFA United Kingdom 1 United Kingdom
More informationRe: International Public Sector Accounting Standards Board Strategy Consultation
Mr. Andreas Bergmann, Chairman International Public Sector Accounting Standards Board 529 5th Avenue, 6th Floor New York, New York 10017 United States of America Deloitte Touche Tohmatsu Limited 2 New
More informationSubject: IPSASB Consultation Paper - Recognition and Measurement of Social Benefits
Ian Carruthers Chairman IPSASB IFAC Submitted via website Brussels, 4 February 2016 Dear Chairman, Subject: IPSASB Consultation Paper - Recognition and Measurement of Social Benefits The Federation of
More informationSummary of IASB Work Plan as at 1 February 2011*
March 2011 Paris, France Page 1 of 17 Summary of IASB Work Plan as at 1 February 2011* Financial Crisis Related Projects 2 IFRS 9: Financial Instruments (FI) (IAS 39 replacement) 2 Consolidation 3 Fair
More informationMr. John Stanford Technical Director International Public Sector Accounting Standards Board International Federation of Accountants
December 19, 2016 Mr. John Stanford Technical Director International Public Sector Accounting Standards Board International Federation of Accountants 277 Wellington Street West Toronto, ON M5V 3H2 Canada
More informationINTERNATIONAL FEDERATION
ITEM 13.1 page 13.1 ITERATIOAL FEDERATIO OF ACCOUTATS 545 Fifth Avenue, 14th Floor Tel: (212) 286-9344 ew ork, ew ork 10017 Fax: (212) 286-9570 Internet: http://www.ifac.org DATE: 20 FEBRUAR 2006 MEMO
More informationOverview of Accounting Standards; IASs/IFRS and IPSAS Presentation by: CPA Daniel Kahi Monday, 10 September 2018
Overview of Accounting Standards; IASs/IFRS and IPSAS Presentation by: CPA Daniel Kahi Monday, 10 September 2018 Uphold public interest Presentation agenda Introduction ISAs / IFRSs IPSAS Concluding Remarks
More informationImprovements to IPSASs. 1. To review and approve proposed changes to certain IPSASs following the review and evaluation of:
Meeting: Meeting Location: International Public Sector Accounting Standards Board Toronto, Canada Meeting Date: June 24-27, 2014 Objective of Agenda Item Improvements to IPSASs Agenda Item 7 For: Approval
More informationAccounting and Auditing Standards Update
Accounting and Auditing Standards Update reflecting developments from May 2014 to August 2014 Standards Developments In Brief Financial reporting 3 Audit and Assurance 4 Standard setting governance 5 Wider
More informationIPSASB REPRESENTATION LIAISON ACTIVITIES: APRIL JUNE 2015
IPSASB (June 2015) IPSASB REPRESENTATION LIAISON ACTIVITIES: APRIL JUNE 2015 Region AFRICA & THE MIDDLE-EAST May 21-22 Accra, Ghana IFAC Accountability Now I. Carruthers, A. Prinsloo Accountability Now
More informationSwiss Comments to Consultation Paper Financial Reporting for Heritage in the Public Sector
Schweizerisches Rechnungslegungsgremium für den öffentlichen Sektor (SRS) Conseil suisse de présentation des comptes publics (CSPCP) Commissione svizzera per la presentazione della contabilità pubblica
More informationIPSAS Outlook. In this issue... management executives
ey.com/ipsas May 2013 management executives IPSAS Outlook The Ernst & Young and CIPFA event a summary report 2 Interview with Eurostat s Alexandre Makaronidis 5 IPSASB issues Conceptual Framework ED on
More informationFIRST TIME ADOPTION OF ACCRUAL BASIS IPSASS
Meeting Meeting Location: International Public Sector Accounting Standards Board Toronto, Canada Meeting Date: June 17 20, 2013 Agenda Item 6 For: Approval Discussion Information FIRST TIME ADOPTION OF
More informationINTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE
Agenda Paper 7.1.5 June 2011 Naples, Italy Page 1 of 8 INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD PROJECT BRIEF AND OUTLINE 1. Subject Government Financial Statistics 1.1 The overall objective
More informationIPSASB. October IPSAS 32 Service Concession Arrangements: Grantor THE INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD
IPSASB THE INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS BOARD AT A GLANCE SERVICE CONCESSION ARRANGEMENTS: GRANTOR IPSAS 32 Service Concession Arrangements: Grantor This summary provides an overview
More information