Public sector: other entities reporting

The International Public Sector Accounting Standards Board (IPSASB) have issued for comment a consultation called The Applicability of IPSASs to Government Business Enterprises and Other Public Sector Entities. They have asked for comments by 31 December.

The consultation highlights that IPSASs are not designed or developed for Government Business Enterprises (GBEs). It highlights that GBEs are generally commercially oriented entities that can have a significant impact on a government’s financial performance and financial position but some entities do not meet the IPSASB definition of a GBE while others fall within the definition or an interpretation of it. 

In response to the potential confusion, IPSASB states it “has developed two approaches to communicate its view of the entities to which IPSASs apply. Under the first approach, the IPSASB would describe the characteristics of public sector entities for which IPSASs are intended...Under the second approach, the definition of a GBE would be retained.” It is seeking views on the best approach. You can see more at