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The International Public Sector Accounting Standards Board of the International Federation of Accountants (IFAC) has issued an exposure draft, ED 32, Financial Reporting Under the Cash Basis of Accounting—Disclosure Requirements for Recipients of External Assistance ( www.ifac.org/News/LastestReleases.tmpl ).

ED 32 strengthens disclosure of financial information by governments and government agencies in developing countries about external assistance, including emergency assistance and development aid, they receive. It is intended to increase the transparency of financial statements and heighten the accountability of aid recipients. The board will field-test ED 32 before it is approved. Comments are due March 31.