The International Public Sector Accounting Standards Board (IPSASB) continued its discussions on public sector leases in December 2023. The guidance on how to account for concessionary leases and right-of-use assets in-kind will be included in IPSAS 43 on Leases.

The IPSASB decided to develop an Exposure Draft with non-authoritative guidance on other types of arrangements that were highlighted by respondents during the IPSASB’s Request for Information, Concessionary and Other Arrangements Similar to Leases. This guidance will assist in accounting for other types of public sector arrangements that are not within the scope of IPSAS 43.

The Exposure Draft will include consequential amendments to IPSAS 47 on Revenue and IPSAS 48 on Transfer Expenses. The amendments will replace the previously exposed amendments to IPSAS 23 on Revenue from Non-exchange Transactions (Taxes and Transfers).

The Exposure Draft is likely to be approved at the June 2024 IPSASB meeting.

Staying informed

As part of the Accounting Standards Board’s (the Board) ongoing commitment to influence the international standard setting process, the Board will continue to monitor progress on the development of any guidance related to leases. 

If you are interested in further developments on this project, subscribe to the ASB’s newsletter or follow the IPSASB’s Leases project at IPSASB Leases project.

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.