📣Have your say on the scoping of the proposed IPSAS on Tangible Natural Resources!

The proposed IPSAS on Tangible Natural Resources, locally issued as ED 212, applies to all tangible natural resources, i.e. naturally occurring items which embody service potential, or the capacity to generate economic benefits, or both, that are not within the scope of any other existing IPSAS. As a result of the scoping approach, tangible natural resources held for conservation are likely to fall within the scope of the proposed IPSAS. The article on 25 November discusses the scoping of the proposed IPSAS.

Specific matter for comment 1 states:

This Exposure Draft is broadly applicable to all tangible natural resources which are not within the scope of any other existing IPSAS. (See paragraphs 3–4, BC8, and BC34). Do you agree with the proposed scope? If not, what alternative scoping approach would you propose and why?

As a result of the proposed scope, tangible natural resources held for conservation are one common example of items which could fall within the scope of this Exposure Draft. What other items would you anticipate being accounted for through this Exposure Draft?

This Exposure Draft includes an Alternative view regarding its scope and the definition of tangible natural resources.

To respond to this question, submit your written comment on ED 212 to info@asb.co.za or participate in scheduled consultations. Details of these consultations are shared on the “ASB Engage” post every alternate Friday.

Comment on ED 212 closes on 14 February 2025.

Disclaimer

The article has been prepared by the Secretariat of the ASB for information purposes only. It has not been reviewed, approved, or otherwise acted on by the Board.