IPSASB publishes an exposure draft on making materiality judgements
IPSASB publishes an exposure draft on making materiality judgements
The International Public Sector Accounting Standards Board (IPSASB) has published Exposure Draft (ED) 97, ‘IPSAS Practice Statement, Making Materiality Judgments’.
During 2025, the IPSASB issued Definition of Material (Amendments to IPSAS 1 Presentation of Financial Statements, IPSAS 3 Accounting Policies, Changes in Accounting Estimates and Errors and the Conceptual Framework), which was aimed at bringing consistency into IPSASB’s guidance on the definition of material.
ED 97 is proposed as non-mandatory guidance to support preparers applying the concept of materiality in an informed and consistent manner by describing a four-step materiality process (identify, assess, organise, and review potential material information).
The exposure draft is open for comment until 28 August 2026.
The press release, exposure draft and link to submit a comment may be accessed here.
During 2025, the IPSASB issued Definition of Material (Amendments to IPSAS 1 Presentation of Financial Statements, IPSAS 3 Accounting Policies, Changes in Accounting Estimates and Errors and the Conceptual Framework), which was aimed at bringing consistency into IPSASB’s guidance on the definition of material.
ED 97 is proposed as non-mandatory guidance to support preparers applying the concept of materiality in an informed and consistent manner by describing a four-step materiality process (identify, assess, organise, and review potential material information).
The exposure draft is open for comment until 28 August 2026.
The press release, exposure draft and link to submit a comment may be accessed here.