Share your comment on a proposed IPSAS dealing with tangible natural resources
- November 20, 2024
- Posted by: Julianne Vissie
- Category: Blog
The ASB issued the proposed International Public Sector Accounting Standard (IPSAS) on Tangible Natural Resources locally as ED 212 – to solicit feedback from stakeholders as input into the International Public Sector Accounting Standards Board’s standard-setting process. Comment on ED 212 closes on 14 February 2025.
The proposed IPSAS poses a number of specific questions to stakeholders on, among others, the scope of the proposed IPSAS, the definition of natural resources, the depreciation of tangible natural resources and the proposal to exempt certain disclosure requirements. These areas will be considered in future articles.
The ASB invites stakeholders to submit 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.
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.
2 Comments
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It’s great to see the ASB engaging stakeholders in the development of ED 212, especially given the importance of clarifying the status of how tangible natural resources are recognized and reported. The proposed IPSAS raises important questions around scope, definitions, depreciation, and disclosure exemptions — all areas where stakeholder input will be key. I’m particularly interested in how they’ll address depreciation for resources that don’t fit traditional models. Looking forward to the insights that come from this process and the future articles!
Hello Thabo
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Jeanine