The IPSASB meets in September and expects to approve key Exposure Drafts

  • September 11, 2024
  • Posted by: Julianne Vissie
  • Category: Blog
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The IPSASB will meet from 17 to 20 September 2024 and will discuss the following key topics:

Project

Key areas of discussion

Natural Resources

 It is expected that the IPSASB will approve an Exposure Draft on Natural Resources. The IPSASB proposes to exclude natural resources in the scope of other IPSAS from this Exposure Draft, leaving primarily natural resources held for conservation in the scope. The proposed accounting for this category of natural resources is similar to property, plant and equipment in IPSAS 45 on Property, Plant and Equipment.
Climate-related disclosures

 The IPSASB is expected to approve an Exposure Draft for the first public sector Sustainability Reporting Standard on Climate Related Disclosures. The proposed guidance for public sector entities’ own operations is aligned with the private sector standard – IFRS S2. Additional requirements are proposed for entities responsible and accountable for public policy programmes, to report information on the outcomes of those programmes.
Other approvals

The IPSASB will approve:

·       It’s final strategy and work program. This is expected to be substantially unchanged from the consultation.

·       Final guidance on other lease-type arrangements.
Presentation of Financial Statements The IPSASB continues to develop its Consultation Paper on Presentation of Financial Statements alongside an illustrative Exposure Draft. The meeting will consider presentation of information in the statement of financial position.
Other projects in progress

The IPSASB will have initial discussions on issues stakeholders raised with the consultation on:

·       Guidance on mining-related activities (IFRS 6 and IFRS 20 alignment).

·       IFRIC alignment – narrow scope amendments.

Watch the meeting live on the IPSASB’s YouTube channel.

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.

 



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