IPSASB ED 67

IPSASB proposes requirements for collective and individual services and emergency relief


Not-for-profitPublic Sector


Tier 1 and Tier 2

The International Public Sector Accounting Standards Board (IPSASB) has published for comment Exposure Draft 67 Collective and Individual Services and Emergency Relief (Amendments to IPSAS 19) (the ED).

The ED proposes requirements for the accounting for collective services (such as street lighting and defence services), individual services (such as healthcare and education) and emergency relief (such as cash transfers, goods and services provided in response to natural disasters or costs incurred in preparation for such events).

These transactions and events may have previously been scoped out of IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets, but, following the IPSASB’s recent publication of IPSAS 42 Social Benefits, they may now fall within the scope of IPSAS 19.

IPSAS 42’s definition of social benefits is narrower than the previous broad description of social benefits in IPSAS 19 in that it excludes collective and individual services and emergency relief.

The IPSASB is therefore proposing to establish requirements and add guidance on accounting for these transactions in IPSAS 19.

Current PBE requirements

When the New Zealand Accounting Standards Board (NZASB) developed the PBE Standards, it aligned the social benefits scope exclusion in PBE IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets with that in NZ IFRS (PBE).

The scope of PBE IPSAS 19 therefore excludes obligations of the Crown expressed in legislation that have characteristics similar to an executory contract, such as obligations to make future social welfare payments and the delivery of future health and education services.

Despite this scope exclusion, PBEs will have applied PBE IPSAS 19 to a range of other transactions and events. This scope exclusion was intended to be a short-term measure pending the completion of various IPSASB projects, including social benefits.

The proposals in the ED are relevant for Tier 1 and Tier 2 public benefit entities, because the XRB has a policy that establishes a rebuttable presumption that the NZASB will adopt a new or amended IPSAS as a PBE Standard.

However, prior to proposing any changes to PBE IPSAS 19, a domestic exposure draft would be issued.


Commenting on the proposal

If you are aware of New Zealand-specific matters you want the NZASB to consider, send your comments—both formal or informal—by 5 April 2019 to the NZASB.

Please reply using this secure online form below.

We also encourage you to send comments directly to the IPSASB by 31 May 2019, 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.


Access the Consultation Documents


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