Public sector reporting

The International Public Sector Accounting Standards Board (IPSASB) has issued Conceptual Framework Exposure Draft 4, Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Presentation in General Purpose Financial Reports. The exposure draft (ED) builds on the earlier work in the development of International Public Sector Accounting Standards and Recommended Practice Guidelines and aims to define the concepts to be applied when presenting General Purpose Financial Reports.  

Proposals and areas to consider and comment on are: 

  • the appropriateness of the suggested of “presentation”, “display”, and “disclosure” and how they interact;
  • the identification and interaction of three presentation decisions (selection, location and organisation); 
  • the approach in arriving at presentation decisions; and
  • the description of information in the financial statements and General Purpose Financial Reports. 

The ED is open for public comment until 15 August and can be found on the IFAC website.