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28 Jul. 2016

Public sector specific financial instruments

Some financial instruments are unique to the public sector, such as

• special drawing rights;
• currency in circulation; and
• monetary gold,

Neither International Financial Reporting Standards nor International Public Sector Accounting Standards specifically address these instruments. As a first step to developing specific guidance the International Public Sector Accounting Standards Board has released a Consultation Paper seeking feedback on some preliminary views on accounting for the three public sector financial instruments highlighted above.

Comments on the consultation paper are due to the IPSASB by 31 December 2016.

The consultation paper is available on the IPSASB website or directly via this link.