IPSASB ISSUES EXPOSURE DRAFT ON DISCLOSURE OF EXTERNAL ASSISTANCE
The International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) has issued an Exposure Draft (ED) designed to strengthen the disclosure of financial information about external assistance, such as emergency assistance and
development aid received by governments and government agencies in developing and other countries. ED 32, Financial Reporting under the Cash Basis of Accounting - Disclosure Requirements for Recipients of External Assistance, proposes that the financial statements of recipients of external
assistance disclose the total amount of external assistance received, used, and available during the reporting period. These disclosures will increase the transparency of the financial statements of recipients and contribute to greater accountability by the recipients of such assistance.
development aid received by governments and government agencies in developing and other countries. ED 32, Financial Reporting under the Cash Basis of Accounting - Disclosure Requirements for Recipients of External Assistance, proposes that the financial statements of recipients of external
assistance disclose the total amount of external assistance received, used, and available during the reporting period. These disclosures will increase the transparency of the financial statements of recipients and contribute to greater accountability by the recipients of such assistance.
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