The IPSASB has issued Exposure Draft (ED) 81, Conceptual Framework Update: Chapter 3, Qualitative Characteristics and Chapter 5, Elements in Financial Statements for public comment.
ED 81 updates Chapter 3, Qualitative Characteristics, and Chapter 5, Elements of Financial Statements, of the Conceptual Framework, in light of:
- the IPSASB’s experience in applying the Conceptual Framework to the development and maintenance of International Public Sector Accounting Standards (IPSAS); and
- developments in international thinking about conceptual issues since the Framework was approved in 2014.
PSAB encourages stakeholders to review the ED and send comments to the IPSASB by May 31, 2022. If you would like PSAB to consider your feedback in our response, please reply via comment letter by May 16, 2022.