• IPSASB issues four measurement related Exposure Drafts

IPSASB issues four measurement related Exposure Drafts

30 April 2021

The International Public Sector Accounting Standards Board (IPSASB) has issued four Exposure Drafts (ED) related to measurement:

  • ED 76, Conceptual Framework Update: Chapter 7, Measurement of Assets and Liabilities in Financial Statements: This ED streamlines the measurement principles in the Conceptual Framework by eliminating unused measurement bases and enhancing focus on those that are commonly used.
  • ED 77, Measurement: This ED proposes new guidance in a single standard which addresses how commonly used measurement bases are applied in practice. It proposes a generic guidance on fair value and a public sector specific current value measurement basis.  
  • ED 78, Property, Plant, and Equipment: This ED updates IPSAS 17, Property, Plant and Equipment by adding general measurement guidance and measurement options when accounting for assets within its scope.
  • ED 79, Non-Current Assets Held for Sale and Discontinued Operations: This ED is aligned with IFRS 5, Non-Current Assets Held for Sale and Discontinued Operations. 

 The four EDs are published together to highlight the common measurement principles proposed and the ways they are applied consistently throughout the draft guidance.

The exposure Drafts may be accessed here. Comments on the Exposure Drafts are sought by October 25, 2021.