Limited-scope Updates to First-time Adoption of IPSAS (Amendments to IPSAS 33)
About this consultation
The International Public Sector Accounting Standards Board (IPSASB) issued Exposure Draft 91 Limited-scope Updates to First-time Adoption of International Public Sector Accounting Standards (IPSAS) (Amendments to IPSAS 33).
The Exposure Draft proposes amendments to IPSAS 33 First-time Adoption of Accrual-based International Public Sector Accounting Standards (IPSAS), to help public sector entities transition to accrual basis IPSAS. Proposals include restructuring the guidance in IPSAS 33 into a more user-friendly structure, amendments to encourage adoption of IPSAS as soon as possible during the ‘transition period’ specified in IPSAS 33, and adding non-authoritative guidance to support first-time IPSAS adopters.
IPSAS 33 is not included in the PBE Standards suite, and the proposals are generally not expected to be relevant in New Zealand. However, you are welcome to comment to the IPSASB on the proposals.
Read the ‘marked up’ version of Exposure Draft 91 here
Read the IPSASB’s ‘at a glance’ summary’ here
How to provide feedback
Comments can be submitted directly to the IPSASB by 13 December 2024, by clicking here.
If submitting directly to the IPSASB, please send a copy of your submission to accounting@xrb.govt.nz.