News
IPSASB Seeks Comments on Concessionary Lease Proposal for the Public Sector
13-Feb-2023
Stakeholder comments on Exposure Draft 84 sought by May 17, 2023
NEW YORK- The International Public Sector Accounting Standards Board (IPSASB) released Exposure Draft (ED) 84, Concessionary Leases, and Right-of-Use Assets In-kind (Amendments to IPSAS 43 and IPSAS 23) for comment.
ED 84 is part of phase two of the IPSASB’s Leases project. It proposes amendments to IPSAS 43, Leases on accounting for concessionary leases, as well as new guidance on right-of-use assets in-kind and consequential amendments to IPSAS 23, Revenue from Non-Exchange Transactions (Taxes and Transfers).
Feedback received to the IPSASB’s Request for Information (RFI), Concessionary Leases and Other Arrangements Similar to Leases helped shape ED 84 and is summarized in a Feedback Statement published alongside the new ED.
“In light of the responses to the RFI, the IPSASB decided to propose new guidance on concessionary leases and right-of-use assets in-kind,” said IPSASB Chair Ian Carruthers. “The proposals in ED 84 will provide new guidance that will enhance transparency, accountability, and decision-making in the public sector.”
Access ED 84 and related documents including the Feedback Statement, At-a-Glance, and webcast at the IPSASB’s website.
How to Comment
To access the Exposure Draft, its summary At-a-Glance document, and the Feedback Statement or to submit a comment, visit the IPSASB website. Comments are requested by May 16, 2023. The IPSASB encourages IFAC members, associates, and regional accountancy organizations to promote the availability of this Consultation Paper to their members and employees.
Source: www.ifac.org