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7 Aug. 2018

Invitation to Comment: ITC 41 The AASB’s Approach to International Public Sector Accounting Standards

To continue contributing to the development of high-quality accounting standards for not-for-profit (NFP) public sector entities, the AASB has developed ITC 41 The AASB’s Approach to International Public Sector Accounting Standards, a draft policy document that proposes to replace the AASB Approach to IPSASs issued in October 2011.

The draft policy sets out:

  • the conditions necessary for the AASB to recommend moving from IFRS Standards to IPSAS as the basis for NFP public sector accounting in Australia
  • the AASB’s level of involvement in IPSASB standard-setting processes.

Once finalised, the AASB intends to review these conditions periodically and make the results of that assessment public. 

We are keen to hear your views and encourage you to submit your comments via the AASB website, LinkedIn or by email to standard@aasb.gov.au by 30 November 2018.