IPSASB Issues ED 95: Improvements to IPSAS Accounting Standards

Posted 19 May 2026 Written by Acts Online
Category Financial and Accounting

Brought to you by SA Accounting Academy: The International Public Sector Accounting Standards Board (IPSASB) has issued Exposure Draft (ED) 95, proposing minor, non-substantive amendments to various International Public Sector Accounting Standards (IPSAS) to maintain alignment with International Financial Reporting Standards (IFRS).

The primary objective of ED 95: Improvements to IPSAS Accounting Standards — Volume 10 is to align IPSAS standards with recent narrow-scope amendments and improvements made by the International Accounting Standards Board (IASB) to IFRS Accounting Standards. These proposed changes represent a collection of unrelated, non-substantive amendments designed to address minor inconsistencies, clarify guidance, and update terminology across several standards.

The proposed improvements in ED 95 target several key accounting areas, including:

  • Financial instruments: Clarifications and minor updates to the presentation and measurement of financial assets and liabilities.
  • Foreign exchange: Alignment of foreign transaction reporting and exchange rate effects.
  • Consolidated financial statements: Minor adjustments to consolidation procedures and disclosures.
  • Editorial clarifications: General corrections of minor errors, terminology updates, and cross-referencing improvements across the IPSAS suite.

Click here to download the 72-page Exposure Draft.

What this means for you, your business, or your clients

  • For yourself: No direct individual obligations; however, you must familiarise yourself with the proposed narrow-scope changes to maintain professional competence in public sector financial reporting.
  • For your business: Public sector advisory firms and audit practices must review the proposed amendments to assess their future impact on audit methodologies and public sector compliance checklists.
  • For your clients: Public sector entities and state-owned enterprises utilizing IPSAS must review the exposure draft to prepare for minor adjustments in financial instrument reporting, foreign exchange disclosures, and consolidation procedures.

Originally published at https://accountingacademy.co.za/news/read/ipsasb-ed-95-improvements-to-ipsas-accounting-standards

The views expressed herein are those of the author and do not necessarily reflect those of Acts Online. Acts Online accepts no responsibility for the accuracy, completeness or fairness of the article, nor does the information contained herein constitute advice, legal or otherwise.