ED 57 proposes to bring property, plant and equipment, and intangible assets on the revaluation model within the scope of the IPSASB’s two standards on impairment?IPSAS™ 21, Impairment of Non-Cash-Generating Assets, and IPSAS 26, Impairment of Cash-Generating Assets. These changes seek to provide users with relevant information on impairments to these assets. They also clarify that an impairment to one or more individual assets within a class of property, plant, and equipment does not necessitate a revaluation of the entire class to which that impaired asset belongs.

ED 58 proposes minor changes as follows:

  • Consequential amendments arising from the first four chapters of the Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities;
  • General improvements to International Public Sector Accounting Standards™;
  • Improvements to increase consistency with Government Finance Statistics reporting guidelines; and
  • Improvements to maintain convergence with International Financial Reporting Standards.

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