Financial Statement Discussion and Analysis

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IPSASB

Exposure Draft (ED) 47
March 2012 Comments due: July 31, 2012

Proposed International Public Sector Accounting Standard

Financial Statement Discussion and Analysis

The International Public Sector Accounting Standards Board (IPSASB) sets International Public Sector Accounting Standards (IPSASs) for use by public sector entities, including national, regional, and local governments, and related governmental agencies. A key part of the IPSASB’s strategy is to converge the IPSASs, to the extent appropriate, with the IFRSs issued by the IASB. The objective of the IPSASB is to serve the public interest by setting high-quality public sector accounting standards and by facilitating the adoption and implementation of these, thereby enhancing the quality and consistency of practice throughout the world and strengthening transparency and accountability of public sector finances.

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The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). The mission of the International Federation of Accountants (IFAC) is to serve the public interest by: contributing to the development, adoption and implementation of high-quality international standards and guidance; contributing to the development of strong professional accountancy organizations and accounting firms, and to high-quality practices by professional accountants; promoting the value of professional accountants worldwide; speaking out on public interest issues where the accountancy profession’s expertise is most relevant.

International Public Sector Accounting Standards, Exposure Drafts, Consultation Papers, and other IPSASB publications are published by, and copyright of, IFAC.

The IPSASB and IFAC do not accept responsibility for loss caused to any person who acts or refrains from acting in reliance on the material in this publication, whether such loss is caused by negligence or otherwise. The IPSASB logo, ‘International Public Sector Accounting Standards Board’, ‘IPSASB’, ‘International Public Sector Accounting Standards’ ‘IPSAS’, the IFAC logo, ‘International Federation of Accountants’, and ‘IFAC’ are trademarks and service marks of IFAC. Copyright © March 2012 by the International Federation of Accountants (IFAC). All rights reserved. Permission is granted to make copies of this work to achieve maximum exposure and feedback provided that each copy bears the following credit line: “Copyright © March 2012 by the International Federation of Accountants (IFAC). All rights reserved. Used with permission of IFAC. Permission is granted to make copies of this work to achieve maximum exposure and feedback.”

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REQUEST FOR COMMENTS
This Exposure Draft 47, Financial Statement Discussion and Analysis, was developed and approved by the International Public Sector Accounting Standards Board (IPSASB). The proposals in this Exposure Draft may be modified in light of comments received before being issued in final form. Comments are requested by July 31, 2012. Respondents are asked to submit their comments electronically through the IPSASB website, using the “Submit a Comment” link. Please submit comments in both a PDF and Word file. Also, please note that first-time users must register to use this feature. All comments will be considered a matter of public record and will ultimately be posted on the website. Although IPSASB prefers that comments are submitted via its website, comments can also be sent to Stephenie Fox, IPSASB Technical Director at stepheniefox@ipsasb.org. This publication may be downloaded free of charge from the IPSASB website: www.ipsasb.org. The approved text is published in the English language.

Objective of the Exposure Draft
The objective of this Exposure Draft (ED) is to propose an authoritative Standard for the preparation of financial statement discussion and analysis by public sector entities.

Guide for Respondents...
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