News
Stakeholder Comments on Mid-Period Work Program Consultation Sought by November 30, 2021
13-Sep-2021
IPSASB Consults on New Projects for its Work Program
EW YORK - In its Strategy and Work Plan 2019-2023 (the Strategy) the International Public Sector Accounting Standards Board® (IPSASB®) committed to hold a public consultation mid-way through the Strategy period on projects that should be added to the Work Program during the remainder of the period, as existing projects were completed. Accordingly, the IPSASB has released its Mid-Period Work Program Consultation (Consultation).
Within the context of continuing to deliver the Strategy, the Consultation prioritizes projects to be added to the Work Program as the Board and staff resources become available during 2022 and 2023. Because of the resources likely to become available, the Consultation proposes adding two major projects:
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IPSAS 21, Impairment of Non-Cash-Generating Assets;
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IPSAS 31, Intangible Assets;
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IPSAS 33, First-Time Adoption of Accrual Basis IPSASs; and
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Making Materiality Judgements.
“Despite the major challenges of the pandemic, the Biennial Review that we have published [today] shows that the IPSASB has continued to deliver on its current Strategy, which itself remains relevant. As we complete our current projects, the Board is proposing to add a number of new ones based on its views on the current priorities,” said IPSASB Chair Ian Carruthers. “It is essential the IPSASB hears its stakeholders’ views on the proposed projects so that it can best address their needs and priorities as IPSAS usage continues to increase globally.”
How to Comment
To access the Exposure Draft, its summary At-a-Glance document, and the Request for Information or to submit a comment, visit the IPSASB website, www.ipsasb.org. Comments are requested by November 30, 2021. The IPSASB encourages IFAC members, associates, and Network Partners to promote the availability of this Consultation Paper to their members and employees.
Source: www.ifac.org