IPSASB Issues First Conceptual Framework Consultation Paper


The International Public Sector Accounting Standards Board (IPSASB), an independent standard-setting board of the International Federation of Accountants (IFAC), has issued for comment the first in a series of consultation papers focused on developing an international public-sector conceptual framework. The consultation paper, Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities, identifies the IPSASB’s preliminary views on the objectives and scope of financial reporting, the qualitative characteristics of information included in general purpose financial reports, and the characteristics of public-sector reporting entities.

Comments are due by March 31. The document is available at www.ifac.org/Guidance/EXD-Details.php?EDID=0119.

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