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The IPSASB made key decisions at its June 2025 meeting on its guidance on tangible natural resources. These decisions were based on feedback received on the Exposure Draft published for comment.
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Location of the guidance
The guidance will be issued as a separate, standalone IPSAS.
Scope of the IPSAS
The proposed that the IPSAS should be a residual standard. This means that the IPSAS is applied to any item that meets the definition of a tangible natural resource not within the scope of an existing IPSAS. The IPSASB agreed to narrow the scope of the final IPSAS to focus on tangible natural resources held for conservation because stakeholders could not identify other items that would be in the scope.
Definition of tangible natural resources
The definition of a tangible natural resource will incorporate items held “held for conservation”. Guidance on applying the revised definition will be included as Application Guidance to the final IPSAS.
Next steps
The IPSASB plans to approve the final IPSAS at its December 2025 meeting.
For further developments on the project, you can subscribe to the ASB’s newsletter or follow the IPSASB’s Natural Resources project on IPSASB Natural-resources.
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.