• Local stakeholders support amendments to IPSAS based five IFRIC Interpretations

    The International Public Sector Accounting Standards Board (IPSASB) recently issued an Exposure Draft (ED) proposing amendments to IPSAS based on five IFRIC Interpretations deemed to be relevant to the public sector. The Interpretations were not previously considered by the IPSASB because there was no established process to determine their applicability to the public sector. The

    July 17, 2024
  • GRAP 104 (revised) scopes in financial guarantee contracts

    The revised GRAP 104 on Financial Instruments includes financial guarantee contracts, which were previously outside the scope of this Standard. This article discusses the recognition, measurement and disclosure requirements of financial guarantee contracts from the perspective of the issuer, to ensure that entities are well prepared to comply with the revised Standard. What are financial

    July 15, 2024
  • The GRAP Reporting Framework for 2023/24 and beyond

    As part of the ASB’s project to Enhance the Application of Standards of GRAP, the Secretariat published a recording to provide stakeholders with an overview of the GRAP Reporting landscape for 2023/24 and beyond. Access the recording on the ASB’s YouTube channel. The slide presentation is available on the ASB website.

    July 12, 2024
  • IPSASB meeting 25 to 28 June 2024

    Approvals: Exposure Draft on Amendments to IPSAS as a result of the application of IPSAS 46 Measurement Exposure Draft on Proposed amendments to IPSAS 33, First-Time Adoption of Accrual Basis IPSAS Final Pronouncement – Concessionary Leases and Other Arrangements Final Strategy and Workplan 2024 to 2028 Projects in progress: Presentation of Financial Statements: The IPSASB

    July 11, 2024