ALT "The approval IPSAS 46 finalizes the underlying concepts and guidance that will underpin the IPSASB’s approach to measurement for many years. This standard brings measurement guidance together in a single standard, introducing a public sector specific current value measurement basis for assets held for their operational capacity and brings in generic guidance on fair value for the first time." - Agustina Llambi

ALT "The approval of IPSAS 47 results in a single set of guidance to account for revenue transactions in the public sector. IPSAS 47 will replace the existing three revenue standards, and presents accounting models which will improve financial reporting and support effective public financial management in the years to come." - Eileen Zhou

ALT "The approval of IPSAS 48 resulted in first-time guidance on transfer expenses, which are a major area of expenditure for both governments and other public sector entities. IPSAS 48 fills a gap in the current IPSASB literature which had previously led to ambiguity and inconsistency of accounting policies in the public sector." - Edwin Ng

ALT "The approval of the updated Conceptual Framework Chapter 5 further strengthens the Framework’s central role in guiding IPSASB’s standard-setting activities, but is not a full replacement of the original Chapter. The update reflects both IPSASB’s experience in using the Framework since its approval in 2014 and recent global developments in conceptual thinking." - John Stanford

ALT A walkable bridge crossing a forested area