Until now, IPSASs and RPGs have included a definition of a Government Business Enterprise (GBE) and a statement that GBEs apply International Financial Reporting Standards. The definition of a GBE has proved ambiguous in places and difficult for preparers to interpret.

The main amendments:

  • Provide the characteristics of public sector entities for which IPSAS are designed in the revised Preface;
  • Replace the term “GBEs” with the term “commercial public sector entities;”
  • Delete the definition of a GBE in IPSAS 1, Presentation of Financial Statements; and
  • Amend the scope section of each IPSAS and RPG by removing the paragraph that states that these pronouncements do not apply to GBEs.


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