The IPSASB® has published the following five International Public Sector Accounting Standards™ (IPSASs™):
- IPSAS 34, Separate Financial Statements
- IPSAS 35, Consolidated Financial Statements
- IPSAS 36, Investments in Associates and Joint Ventures
- IPSAS 37, Joint Arrangements
- IPSAS 38, Disclosure of Interests in Other Entities
These five standards will replace current requirements in:
- IPSAS 6, Consolidated and Separate Financial Statements;
- IPSAS 7, Investments in Associates; and
- IPSAS 8, Interests in Joint Ventures.
A key part of the IPSASB’s strategy to develop high-quality public sector financial reporting standards is to maintain existing IPSASs. IPSASs 6, 7, and 8 are based on International Financial Reporting Standards (IFRSs). Because the underlying IFRSs have changed, the IPSASB has developed IPSASs 34-38 so that convergence with the related IFRSs is maintained to the extent appropriate. These IPSASs also incorporate important guidance to make them appropriate for application in the public sector.