The International Public Sector Accounting Standards Board (IPSASB) has put forward two new Exposure Drafts, inviting comments on proposed revisions to its public sector reporting framework.
The IPSASB has issued Exposure Draft (ED) 95, Improvements to IPSAS Accounting Standards – Volume 10, and ED 96, Definition of an Operation and Recognition of Acquired Liabilities and Contingent Liabilities, for public comment.
ED 95 sets out minor amendments to accrual-basis IPSAS Standards. It focuses on financial instruments, foreign exchange and consolidated financial statements, along with editorial clarifications.
ED 96 proposes amendments to IPSAS 40, Public Sector Combinations, which covers the acquisition or amalgamation of public sector operations. The changes would refine the definition of an “operation” and update requirements on recognising certain liabilities.
In a statement, the IPSASB said the drafts support its ongoing efforts to keep public sector accounting standards globally relevant.
Both documents draw on recent work by the International Accounting Standards Board (IASB), which develops requirements for private sector entities.
The IPSASB reviews such material to assess its suitability for the public sector, adjusts it where needed and refines it further based on stakeholder input.
The board has stated that “public feedback will shape the final improvements to IPSAS Standards”.
Comments on both exposure drafts are requested by 30 June 2026.
Earlier this year, the IPSASB issued IPSASB SRS 1, Climate-related Disclosures, introducing a new reporting standard for governments and other public sector entities to report climate-related risks.
Developed with World Bank support, the standard is presented as the first climate disclosure framework tailored to public sector reporting.
