International Public Sector Accounting Standards Board Review the Cash Basis IPSAS: An Opportunity to Influence Developments

In our second article, Paul Sutcliffe from the International Public Sector Accounting Standards Board provides an introduction to the major review of the Cash Basis Standard which is currently underway. Although this Standard is applicable to the vast majority of governments across the world, which adopt the cash (or more strictly the modified cash) basis for their annual financial statements, the actual level of adoption has been disappointingly low. The primary objectives of the review are to identify major technical issues in implementing the Standard and suggest to the Board any amendments which should be made. These will be subject to the IPSASB’s due process and so there will be plenty of opportunities for interested parties to comment at a later stage, probably next year.

International Public Sector Accounting Standards Board