IPSASB proposals on reporting service performance information
The International Public Sector Accounting Standards Board (IPSASB) has published an exposure draft of a Recommended Practice Guideline (RPG). The exposure draft, ED 54 Reporting Service Performance Information, builds on a consultation paper issued in 2011. The IPSASB seeks feedback to guide it in developing a final Recommended Practice Guideline (RPG) that will assist an entity with the reporting of service performance information. The ED is open for public comment until May 31, 2014.
This RPG is applicable to all public sector entities other than Government Business Enterprises. It provides guidance on presentation decisions with respect to service performance information that will meet users’ needs; and recommended minimum characteristics for reporting service performance information. The proposed RPG recommends that entities define service performance objectives that describe the planned results that an entity is aiming to achieve, expressed in terms of inputs, outputs, outcomes, efficiency, or effectiveness.
IASB publishes proposals for Annual Improvements Cycle 2012-2014
The International Accounting Standards Board (IASB) has published for public comment an Exposure Draft of five proposed amendments to four International Financial Reporting Standards (IFRSs) under its annual improvements project. The proposed effective date for the amendments is for annual periods beginning on or after 1 January 2016. The Exposure Draft can be accessed via the project website or on the ‘Comment on a proposal’ page on www.ifrs.org. The IASB requests comments on the Exposure Draft by 13 March 2014.
IAASB Consults on Five-Year Strategic Objectives and Work Priorities
The International Auditing and Assurance Standards Board (IAASB) has released for public comment its Proposed Strategy for 2015–2019 and Proposed Work Program for 2015–2016. The proposals emphasize the IAASB’s commitment to developing and maintaining high-quality International Standards on Auditing (ISAs) to be adopted and implemented globally. At the same time, they reflect the importance of the IAASB staying abreast of emerging developments to ensure its work remains relevant to its wide range of stakeholders. Comments are requested by April 4, 2014.