Public Sector Specific Financial Instruments

Proposed non-authoritative amendments to PBE IPSAS 41 

We sought feedback on the proposed non-authoritative amendments to PBE  IPSAS 41 Financial Instruments which clarifies requirements for classifying, recognising, and measuring public sector specific financial instruments. The proposed amendments ensure that PBE IPSAS 41 Financial Instruments continues to be aligned with IPSAS 41 Financial Instruments. These proposals are relevant for Tier 1 and Tier 2 public sector public benefit entities, that hold public sector specific financial instruments listed below.  

The proposals clarify the accounting treatment of the following monetary items unique to the public sector:

  • Monetary gold; 
  • Currency in circulation;  
  • International Monetary Fund (IMF) special drawing rights (SDRs); and 
  • IMF quota subscriptions.   

Consultation Document 


Submissions closed on 11 July 2022

We received one submission, which is uploaded below. Thank you to the Treasury for this feedback. The submission supports the proposals in the Exposure Draft.

Submissions received by the NZASB