Not-for-profitPublic Sector

Tier 1 and Tier 2

The International Public Sector Accounting Standards Board (IPSASB) is seeking feedback on proposals to develop a measurement standard with definitions of, and guidance on, commonly-used measurement bases, such as historic cost and fair value and replacement cost.

The IPSASB is also seeking feedback on the treatment of transaction costs and borrowing costs. The proposals are set out in Consultation Paper, Measurement (the CP).

The matters discussed in the CP are relevant for Tier 1 and Tier 2 public benefit entities because the proposals are expected to lead to a new IPSAS. The NZASB has a policy that establishes a rebuttable presumption that the NZASB will adopt a new or amended IPSAS as a PBE Standard.

This consultation is the first step in developing an IPSAS. Although the CP includes an illustrative exposure draft, the next step will be for the IPSASB to issue a formal exposure draft.

Accessing the Consultation Documents

Commenting on the Proposals

Comments are due to the NZASB by 9 August 2019 and to the IPSASB by 30 September 2019.  

Send your comments—both formal and informal— to the NZASB using the upload form below.  

We also encourage you to send comments directly to the IPSASB, with a copy to the NZASB. Your comments can be made electronically to the IPSASB website (www.ifac.org) using the “Submit a Comment” link. First-time users must register with IFAC to submit electronically. 

Upload your submission here

Please use this secure online form.

It has been designed to make your upload safe, quick and easy. 

You can:

  • Upload an MS Word document (and a PDF file, if you wish); or
  • Write your comments below in the space provided.

You can upload up to TWO documents. 

Please note:

  • We would appreciate receiving a copy of your comments in electronic form (preferably Microsoft Word format).  This helps us to more efficiently collate and analyse comments. Please also specify the exposure draft number and title in your electronic file. 

  • Tell us on whose behalf you are making the comments (for example on behalf of a group or an entity).

  • We intend publishing all comments on the XRB website, unless they may be defamatory. If you have any objection to this, we will not publish them. However, they will remain subject to the Official Information Act 1982 and, therefore, may be released in part or in full. The Privacy Act 1993 also applies.

  • If you have an objection to the release of any information contained in your comments, we would appreciate you identifying the parts of your comments to be withheld, and the grounds under the Official Information Act 1982 for doing so (for example, that it would be likely to unfairly prejudice the commercial position of the person providing the information).