Exposure Draft 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS)

IPSASB

Feb 3, 2016 | Exposure Drafts and Consultation Papers

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Comments due by: Jul 31, 2016

The International Public Sector Accounting Standards Board^® (IPSASB^®) has issued Exposure Draft (ED) 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS™).

The Cash Basis IPSAS has two parts. Part 1 identifies requirements that a reporting entity needs to adopt to claim that its financial statements comply with the IPSAS. It presently includes requirements for preparation of consolidated financial statements and for disclosure of information about external assistance and payments made by third parties.

ED 61 proposes that these requirements be revised, recast as encouragements, and moved into Part 2 of the IPSAS. Part 2 identifies encouraged disclosures that an entity may choose to provide, but which are not required to claim compliance with the IPSAS.

The ED also proposes amendments to ensure that the existing requirements and encouragements of the Cash Basis IPSAS are better aligned with the equivalent accrual IPSAS, unless there is a reason to deviate as a result of adopting the cash basis of accounting.

An At a Glance summary document provides an overview of the Exposure Draft and a marked-up version of the Cash Basis IPSAS reflects the proposed changes.

Exposure Draft 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS)

At-a-Glance: IPSASB Exposure Draft 61, Amendments to: Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS)

Marked-up: Exposure Draft 61, Amendments to Financial Reporting under the Cash Basis of Accounting (the Cash Basis IPSAS)

Submitted Comment Letters

Accounting Standards Group Chair (87.3 KB)
()

May 12, 2016
Anand Heeraman (133.7 KB)
(Canada)

Jun 23, 2016
Swiss Public Sector Financial Reporting Advisory Committee (49.25 KB)
(Switzerland)

Jun 28, 2016
CPA Ireland (244.24 KB)
(Ireland)

Jul 11, 2016
ASSOCIATION OF NATIONAL ACCOUNTANTS OF NIGERIA (188.69 KB)
(Nigeria)

Jul 14, 2016
ICAEW (85.04 KB)
(United Kingdom)

Jul 15, 2016
CIPFA (194.6 KB)
(United Kingdom)

Jul 18, 2016
International Consortium on Government Financial Management (ICGFM) (183.42 KB)
()

Jul 19, 2016
KPMG (75.72 KB)
(South Africa)

Jul 20, 2016
Office of the State Auditor-General for Local Governments, Ekiti State (43.42 KB)
(Nigeria)

Jul 22, 2016
FINANCIAL REPORTING COUNCIL OF NIGERIA (473.56 KB)
(Nigeria)

Jul 29, 2016
PACIFIC ASSOCIATION OF SUPREME AUDIT INSTITUTIONS (509.91 KB)
()

Jul 30, 2016
Deloitte (44.92 KB)
()

Aug 1, 2016
Institute of Certified Public Accountants of Kenya (181.23 KB)
(Kenya)

Aug 2, 2016
Muhammad Hadidjaja (141.59 KB)
(Indonesia)

Aug 3, 2016
ACCA (126.11 KB)
()

Aug 4, 2016
The Malaysian Institute of Certified Public Accountants (MICPA) (212.24 KB)
(Malaysia)

Aug 15, 2016
World Bank Group (227.64 KB)
()

Feb 1, 2017