Project to update Study 14: Transition to the Accrual Basis of Accounting Guidance for Public Sector Entities

The International Public Sector Accounting Standards Board (IPSASB) last updated Study 14, Transition to the Accrual Basis of Accounting: Guidance for Public Sector Entities during 2010, with the 3rd Edition published in January 2011. Study 14 remains a seminal reference point for jurisdictions contemplating a move to an accounting framework based on, or using directly, International Public Sector Accounting Standards (IPSAS). The IPSASB recommended that Study 14 be updated, as—based on the International Public Sector Financial Accountability Index—98 jurisdictions indicated they will be reporting on an accrual basis by 2024, up from 37 in 2018. IFAC provided GBP15,000 and DFID the remaining GBP9,000 to fund the Scoping Phase of the project, which took place during 2019/2020. The deliverable was presented in the form of a Project Brief to the IPSASB for endorsement in March 2020.