A board within the International Federation of Accountants has issued revised standards to increase the clarity and usability of International Public Sector Accounting Standards.
The 11 revised accrual basis standards from the International Public Sector Accounting Standards Board, as well as the revised “Preface to International Public Sector Accounting Standards,” are a step towards the board’s ultimate goal of convergence with the International Financial Reporting Standards issued by the International Accounting Standards Board.
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