The International Public Sector Accounting Standards Board (IPSASB) has extended the comment period for Exposure Drafts (EDs) 70-72 to November 1, 2020 due to the COVID-19 pandemic. These three EDs, released in February this year, pioneer new approaches for some of the most prevalent public sector transactions, including government transfers and grants for the delivery of key government services to citizens.
With the fast-approaching comment deadline, stakeholders are encouraged to learn more about the Exposure Drafts, and submit their comments, by visiting the below links:
Exposure Draft 70: Revenue with Performance Obligations
Exposure Draft 71: Revenue without Performance Obligations
Exposure Draft 72: Transfer Expenses