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IPSASB: New IPSAS 51 – Tangible Natural Resources held for conservation
- 30 January 2026
- Accounting
- South African Accounting Academy
Summary:
The International Public Sector Accounting Standards Board (IPSASB) has issued a new IPSAS Standard to help governments account for Tangible Natural Resources Held for Conservation: IPSAS 51, Tangible Natural Resources Held for Conservation,.
Article:
IPSAS 51 satisfies the need for guidance and introduces new, public sector-specific accounting guidance to governments on accounting for natural resources with physical substance, such as land, trees, and water, often held by governments to preserve or protect them. IPSAS 51 also highlights guidance in other standards that applies to natural resources that are held for other purposes.
Environmental stewardship is often seen by many as a key government responsibility. The conservation of tangible natural resources could have significant impacts on current and future generations around the world, but without effective guidance for how to account for the extent and value of these resources, they are often left out of public sector general purpose financial statements. Recognizing tangible natural resources held for conservation can inform decisions about their stewardship and account for how they change over time, such as if they are depleted, degraded, lost, restored, or enhanced.
IPSAS 51 is effective for annual financial statements for periods beginning on or after 1 January 2028. Earlier application is permitted.
Access the following related documents:
- At a glance (6 pages) - https://ifacweb.blob.core.windows.net/publicfiles/2026-01/ipsasb-aag-ipsas-51.pdf
- Consultation summary ED92 National Resources (20 pages) - https://ifacweb.blob.core.windows.net/publicfiles/2026-01/IPSAS-ED-92-Tangible-Natural-Resources-Consultation-Summary.pdf
Click here to download the 53-page document:
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.
- Governments should be aware of the latest guidance on accounting for natural resources with physical substance.
Relevance to Your clients:
- It is important to stay informed on publications issued by the regulators and standard-setters, e.g. IFAC & IPSASB.
- Governments should be aware of the latest guidance on accounting for natural resources with physical substance.