IPSASB seeks input on updating public sector financial statements

The International Public Sector Accounting Standards Board (IPSASB) has launched a nationalist consultation seeking input connected however nationalist assemblage entities should contiguous fiscal accusation successful their wide intent fiscal statements.

In the Consultation Paper (CP), the committee is asking stakeholders for views connected however to fortify the presumption of fiscal accusation successful nationalist assemblage fiscal statements, arsenic portion of its enactment to modernise reporting requirements.

The enactment is intended to pb to a caller International Public Sector Accounting Standard (IPSAS) that would regenerate IPSAS 1, Presentation of Financial Statements.

IPSAS 1 has been successful spot since 2000.

According to the IPSASB, the nonsubjective of the latest determination is to assistance nationalist assemblage entities pass their fiscal results and presumption successful a mode that is easier for users to understand.

IPSASB seat Thomas Müller-Marqués Berger said: “This consultation reflects however the IPSASB is modernising fiscal connection presumption successful enactment with evolving planetary standards.

“Improving however nationalist assemblage fiscal accusation is communicated is indispensable to ensuring it is utile and really utilized by those it is intended to inform.

“Using reliable fiscal information strengthens decision-making and accountability, supports nationalist fiscal management, and helps to conscionable the needs of legislators, oversight bodies and the public.”

Responses to the CP volition signifier the drafting of a projected caller IPSAS Standard to instrumentality the spot of IPSAS 1.

Comments are requested by 14 September 2026.

Last week, the IPSASB issued 2 caller Exposure Drafts, seeking feedback connected projected changes to its nationalist assemblage reporting framework.

"IPSASB seeks input connected updating nationalist assemblage fiscal statements" was primitively created and published by The Accountant, a GlobalData owned brand.

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