IPSASB ED 65

Not-for-profit Public Sector

Tier 1 & 2
Accounting Standards

Improvements to IPSAS, 2018

The International Public Sector Accounting Standards Board (IPSASB) has published for comment Exposure Draft 65 Improvements to IPSAS, 2018 (ED 65). 

This proposes improvements to IPSAS Standards in order to:

  • address issues identified by stakeholders; and
  • maintain convergence with IFRS® Standards with respect to some narrow scope amendments and annual improvements issued by the International Accounting Standards Board.

The XRB’s policy for the ongoing maintenance and enhancement of PBE Standards is set out in the Policy Approach to Developing PBE Standards. This establishes a rebuttable presumption that the NZASB will adopt a new or amended IPSAS.

If your entity is a public sector or not-for-profit PBE applying PBE Standards, this is your opportunity to evaluate the proposals in ED 65 as proposals for new PBE Standards.

Prior to adopting a PBE Standard based on ED 65, the NZASB would consult via a domestic exposure draft that includes any proposed changes to the forthcoming IPSAS, including any reduced disclosure regime proposals. 

Accessing the Consultation Document

Commenting on the Proposals

If you are aware of specific matters which you want the NZASB to consider, send your comments—both formal or informal—by 1 June 2018 to the NZASB as follows:

Either by post to the:

Chief Executive
External Reporting Board
PO Box 11250
Manners Street Central
WELLINGTON 6142

OR by email to submissions@xrb.govt.nz.

We also encourage you to send comments directly to the IPSASB by 15 July 2018, 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.


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).