International Public Sector Accounting Standards Board (IPSASB): New Exposure Draft (ED) 91 re IPSAS 33

International Public Sector Accounting Standards Board (IPSASB): New Exposure Draft (ED) 91 re IPSAS 33

• 16 August 2024
• Financial Reporting
• South African Accounting Academy

ED 91 proposes to clarify and restructure existing guidance and add new non-authoritative guidance to IPSAS 33, First-time Adoption of Accrual Basis International Public Sector Accounting Standards (IPSASs) to help public sector entities adopt accrual basis IPSAS.

The IPSASB encourages public-sector entities and jurisdictions around the world to apply the accrual basis of accounting through the adoption and implementation of accrual basis IPSAS. The successful application of IPSAS 33 is often a cornerstone of IPSAS adoption and implementation.

This ED aims to clarify the requirements of IPSAS 33 to assist entities and jurisdictions in successfully completing their IPSAS transition journey.

Comments on the ED are requested by 4 December 2024.

Click here to download the Exposure Draft:

https://ifacweb.blob.core.windows.net/publicfiles/2024-08/IPSASB-ED91-IPSAS-33.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

• It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC & IPSASB.
• This ED focuses on the application of IPSAS 33, and can assist many stakeholders to adopt and implement accrual accounting standards successfully.

Relevance to Your Clients:

• It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC & IPSASB.
• This ED focuses on the application of IPSAS 33, and can assist many stakeholders to adopt and implement accrual accounting standards successfully.

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