IPSASB Mid-period Work Program Consultation

  • Public Sector

Tier 1 and Tier 2

The International Public Sector Accounting Standards Board (IPSASB) has recently issued for comment Consultation Paper (CP) Mid-period Work Program Consultation. The CP seeks feedback to assist with the prioritisation of new projects to be added to the Work Program in 2022 and 2023 when it is expected that the IPSASB’s current Revenue and Leases projects will have been completed. 

The IPSASB CP proposes to add two major and four minor projects as shown in the graphic below.  

Major Projects 

  • The Presentation of Financial Statements project will revise overall presentation requirements for the primary financial statements and address any public sector specific issues. 
  • The Differential Reporting project will explore introducing reporting requirements for less complex public sector entities. 

Minor Projects 

  • The projects which will propose to amend IPSAS 21 and IPSAS 31 to address public sector specific issues in these areas. These projects are considered narrow in scope and do not include a holistic review of existing principles and requirements.  
  • The Practice Statement (PS) project will introduce guidance from the IASB’s Making Materiality Judgements PS and seek to maintain alignment with IFRS. 
  • The IPSAS 33 project is only for jurisdictions adopting accrual-based IPSAS  for the first time. It does not form part of the PBE Standards in New Zealand. 

The proposals in the CP are relevant for Tier 1 and Tier 2 public benefit entities (PBEs)—both not-for-profit and public sector entities. The future Work Plan on the IPSASB will impact the future development of PBE Standards in New Zealand. 

Are there other pressing accounting reporting issues or emerging trends that require urgent attention by the IPSASB over the next two year? We welcome your feedback. 


Consultation Documents 


Commenting on the Proposals 

Send your comments—both formal and informal—to the NZASB by 1 October 2021, using the secure upload form below. 

We also encourage you to send comments directly to the IPSASB by 30 November 2021, with a copy to the NZASB.    


Upload your submission here

Please use this secure online form.

It has been designed to make your upload safe, quick and easy. 

You can:

  • Upload an MS Word document (and a PDF file, if you wish); or
  • Write your comments below in the space provided.

You can upload up to TWO documents. 

Please note:

  • We would appreciate receiving a copy of your comments in electronic form (preferably Microsoft Word format).  This helps us to more efficiently collate and analyse comments. If relevant, please also specify the exposure draft number and title in your electronic file. 

  • Tell us on whose behalf you are making the comments (for example on behalf of a group or an entity).

  • We intend publishing all comments on the XRB website, unless they may be defamatory. If you have any objection to this, we will not publish them. However, they will remain subject to the Official Information Act 1982 and, therefore, may be released in part or in full. The Privacy Act 1993 also applies.

  • If you have an objection to the release of any information contained in your comments, we would appreciate you identifying the parts of your comments to be withheld, and the grounds under the Official Information Act 1982 for doing so (for example, that it would be likely to unfairly prejudice the commercial position of the person providing the information).