New Accounting Standards for Public Benefit Entities

This page provides Public Benefit Entities in the Not-for-Profit and Public Sectors a snapshot of new and amending standards to consider when preparing financial statements. 

For these new and amending standards application is required for periods beginning on or after 1 January of the following years.

2023

2024

2025

Row 1

Row 2

Row 3

Not-For-Profit and Public Sector

Select your balance date for new standards requiring first-time adoption in each reporting period:

Application required for periods beginning on/after 1 January 2022

  • PBE FRS 48 Service Performance Reporting
  • PBE IPSAS 41 Financial Instruments

Application required for periods beginning on/after 1 January 2022

  • PBE FRS 48 Service Performance Reporting
  • PBE IPSAS 41 Financial Instruments

Application required for periods beginning on/after 1 January 2022

  • PBE FRS 48 Service Performance Reporting
  • PBE IPSAS 41 Financial Instruments

Application required for periods beginning on/after 1 January 2022

  • PBE FRS 48 Service Performance Reporting
  • PBE IPSAS 41 Financial Instruments

Application required for periods beginning on/after 1 January 2023

  • PBE IFRS 17 Insurance Contracts (NFP only)
  • 2022 Omnibus Amendments to PBE Standards
  • Public Sector Specific Financial Instruments (Non-Authoritative Amendments to PBE IPSAS 41)

Application required for periods beginning on/after 1 January 2023

  • PBE IFRS 17 Insurance Contracts (NFP only)
  • 2022 Omnibus Amendments to PBE Standards
  • Public Sector Specific Financial Instruments (Non-Authoritative Amendments to PBE IPSAS 41)

Application required for periods beginning on/after 1 January 2023

  •  PBE IFRS 17 Insurance Contracts (NFP only)
  • 2022 Omnibus Amendments to PBE Standards
  • Public Sector Specific Financial Instruments (Non-Authoritative Amendments to PBE IPSAS 41)

Application required for periods beginning on/after 1 January 2023

  • PBE IFRS 17 Insurance Contracts (NFP only)
  • 2022 Omnibus Amendments to PBE Standards
  • Public Sector Specific Financial Instruments (Non-Authoritative Amendments to PBE IPSAS 41)

Application required for periods beginning on/after 1 January 2024

  • Disclosure of Fees for Audit Firms’ Services (Amendments to PBE IPSAS 1)
Standards