The International Public Sector Accounting Standards Board (IPSASB) has issued narrow-scope amendments to the IPSAS to align with four recent interpretations published by the IFRS Interpretations Committee (IFRIC).
IPSASB chair Ian Carruthers, said: "By incorporating selected IFRIC Interpretations that are relevant to the public sector, we enhance consistency, and facilitate comparability across jurisdictions."
"Going forward, the IPSASB will consider the applicability of future IFRIC Interpretations as they are issued to ensure public sector financial reporting remains globally relevant, clear, and consistent," he added.