International Public Sector Accounting Standards — Accounting glossary

The IPSASB develops standards and other material intended to improve transparency and accountability in public-sector reporting. Jurisdictions determine whether and how to adopt IPSAS. IPSAS and IFRS Accounting Standards are different frameworks, even where requirements are aligned; assess the relevant entity, adopted standards and period before applying a treatment. The IPSASB is not the IASB.

Worked example

A government prepares general-purpose financial reports under the IPSAS adopted in its jurisdiction. It checks the relevant IPSAS requirements instead of assuming every IFRS requirement applies unchanged.

Common mistake

Treating IPSAS as the IASB’s standards for private-sector IFRS entities or assuming all governments automatically use IPSAS.

Where it appears in your exams

Qualification	Exam	Relationship	Period
ACCA	FR	Supporting	September 2026–June 2027
ACCA	SBR	Supporting	September 2026–June 2027