Local government: Results of the 2016/17 audits. ... Support S@20 Click here to support us - Donate, Patreon, & More. There is no equivalent to NZ IAS 20 in the suite of PBE Standards. Pbe Ipsas Magazines, Pbe Ipsas eBooks, Pbe Ipsas Publications, Pbe Ipsas Publishers Description: Read interactive Pbe Ipsas publications at FlipHTML5, download Pbe Ipsas PDF documents for free. ux���M5���|v���̿r��Iy����_�“�N���@��|Tg���|2�O�� (PBE IPSAS 20) - We are working through the standard to identify additional reporting requirements for AT. "Yone thrusts forward, dealing 20/45/70/95/120 (+100% Total AD) physical damage. endstream endobj 239 0 obj <>/Metadata 14 0 R/Pages 236 0 R/StructTreeRoot 36 0 R/Type/Catalog>> endobj 240 0 obj <>/MediaBox[0 0 595.32 842.04]/Parent 236 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 241 0 obj <>stream The New Zealand Customs Service will apply these new standards in preparing the 30 June 2020 financial statements. �A ���`����� �!a�� �zy�(�9���C�]u���A����'ZP��F8)ٰ00Λ7����dz[�����*;�>{9/�UvS PBE IPSAS 19: PROVISIONS, CONTINGENT LIABILITIES Effective Periods Beginning AND CONTINGENT ASSETS Version 1: 2014 1 April 2015 SCOPE Excludes provisions, contingent liabilities and contingent assets arising from: Non-onerous executory contracts; and Those covered by other PBE Standards such as: - PBE IPSAS 25 –Employee Benefits. PBE IPSAS 32 Service Concession Arrangements: Grantor Requires classification of service concession assets into classes in accordance with PBE IPSAS 17 and PBE IPSAS 31 Intangible Assets rather than accounting for potentially dissimilar service concession assets as a single asset class. <> 2 0 obj This is a high level timetable for the PBE transition project. This standard supersedes PBE IFRS 9 Financial Instruments, which was issued as an interim standard. For example, the PBE IPSAS 20 Related party disclosures contains a number of differences when compared to NZ IAS 24 Related parties. The restrictions generally specify how the grant is required to be spent in providing specified deliverables of the grant arrangement. F���ui��s�]~�2g�\M�U 6K�d Y�T`�}���|P]>���|���6���ܣ�Z��;A��*���1+����^���E��k�h���U�cqT�'�>�Y�Q���4p8�� ���>� fa���� 8~?�� "�8�89P�A��H�J�"R�����Z���5΢u;�mtt��D��&Pl�(���"�wA�R��� /H�z$�}�n�v��z�I�9��r�r�U2��JFco��!�V2v�����.Y)�v-��=�J�۞�r�Y{l�^Q*� �"d���v�J�,�����X۸Є��vn IMPAIRMENT OF NON-CASH-GENERATING ASSETS 631 IPSAS 21 (c) Sells goods and services, in the normal course of its business, to PUBLIC SECTOR other entities at a profit or full cost recovery; (d) Is not reliant on continuing government funding to be a going concern (other than purchases of outputs at arm’s length); and A local authority must disclose in its annual report the amount of a severance payment to an employee in return … PBE IPSAS 17, PBE IPSAS 27 2016 Omnibus Amendments to PBE Standards PBE IPSAS 17 and PBE IPSAS 27 Changes the scope of PBE IPSAS 17 to include biological assets that meet the definition of bearer plants (e.g., fruit trees). 4 0 obj Disclosure is encouraged but not required and therefore represents best practice Any reference to ‘IAS’, ‘IFRS’, ‘IFRIC’ etc. PBE IPSAS 17 Property, Plant and Equipment PBE IPSAS 19 Provisions, Contingent Liabilities and Contingent Assets PBE IPSAS 20 Related Party Disclosures PBE IPSAS 21 Impairment of Non-Cash-Generating Assets PBE IPSAS 22 Disclosure of Information About the General Government Sector4 PBE IPSAS 23 Revenue from Non-Exchange Transactions For example, PBE IPSAS 20 Related Party Disclosures requires not-for-profit PBEs to disclose all related party transactions, whereas public sector PBEs would usually be eligible for a disclosure exemption in this area . No change required. h�b```�y,2�� cb��_6��o``�(�0��\�S��v�Fyr��F�����a����b �b`_6��A�����a���f ������Ň=��A���:?�g{L��!������ v"/H7� %�����e`X` z% PBE IPSAS 34-38 PBE IPSAS 34-38 replace the existing standards for interests in other entities (PBE IPSAS 6-8). x��][��F�~7��Py�n�U�//b'���xcY �v�-q"�2%���~ϥX�D��E= m](֩�s��9E��[��w߾y����R����������_�&R�"�"/P" ��)�ϟ��Q=����g��U���b����3��RD��"�}/N��p�O���ÍŚޥ��Oϟ��������ُp��y�L���=¤k��̓1F�嚌 �bu1�k2T�����!#>� However, New Zealand is currently considering proposals to have two sets of accounting standards: one set to be applied by entities with a for-profit objective; and another set to be applied by entities with a public benefit objective. 295 0 obj <>stream IPSAS aims to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability.. 238 0 obj <> endobj PBE IPSAS 20 Related Party Disclosures. Download. IPSAS 20, Related Party Disclosures was issued in October 2002. The Council do not expect the impact of this standard to have a material effect on the financial forecasts. For example, PBE IPSAS 20 Related Party Disclosures requires not-for-profit PBEs to disclose all related party transactions, whereas he expectation is that PBE Standards and NZ IFRS will diverge in the future. %���� PBE IPSAS 25.20: A liability and an expense are recognised for bonuses where there is a contractual obligation or where there is a past practice that has created a constructive obligation and a reliable estimate of the obligation can be made. Also, PBE FRS 47 . IN9. We have currently identified the following changes to the reporting requirements, however these are not expected to have major implications on reporting requirements: We are currently working on a project to transition to the new framework. Long-term employee entitlements: PBE IPSAS 25.147-152 Since then, IPSAS 20 has been amended by the following IPSASs: IPSAS 39, Employee Benefits (issued July 2016) (PBEs) to report against a new suite of PBE standards called International Public Sector Accounting Standards (IPSAS) from 1 July 2014. Feedback. Scope. ���0�=R�_姢Y�}��(�\Sg���@h�x�ay/ PBE IPSAS 39 is based on IPSAS 39, which was issued by the IPSASB to update its standards for the amendments to IAS 19 made by the IASB during the 2011-2015 period. (applicable to the for-profit sector) and PBE IPSAS 1 Presentation of Financial Reports (applicable to Public Benefit Entities (PBE)). � �X�8O��5"�̱ K. However, an associate or joint venture of key management personnel of the controlling entity IS a related party under PBE IPSAS 20. •The above diagram is for illustrative purposes only. The International Public Sector Accounting Standards Board® (IPSASB®) works to improve public sector financial reporting worldwide through the development of IPSAS®, international accrual-based accounting standards, for use by governments and other public sector entities around the world. endobj IMPAIRMENT OF NON-CASH-GENERATING ASSETS 631 IPSAS 21 (c) Sells goods and services, in the normal course of its business, to PUBLIC SECTOR other entities at a profit or full cost recovery; (d) Is not reliant on continuing government funding to be a going concern (other than purchases of outputs at arm’s length); and PBE IPSAS 20 Related Party Disclosures Deloitte NZ PBE Disclosure Checklist 30 June 2015 Page 3. IPSAS 17 — Property, Plant and Equipment Mandatory December 2006 1 January 2008 IPSAS 18 Segment Reporting Mandatory June 2002 1 July 2003 IPSAS 19 — Provisions, Contingent Liabilities and Contingent Assets Mandatory October 2002 1 January 2004 IPSAS 20 — Related Party Disclosures Mandatory October 2002 1 January 2004 Page 20 Independent Auditors' Report Page 21 Page 1. At 2 stacks, this skill causes Yone to dash forward with a wave of wind that Knocks Up for 0.75s and deals 20/45/70/95/120 (+100% Total AD) physical damage. PBE IPSAS 22 (PS) Disclosure of Information about the General Government Sector. PBE IPSAS 20 Related Party Disclosures Disclosure of all transactions between related parties (other than key management personnel remuneration) that occur on normal terms and conditions are exempted. stream Some Standards, such as PBE IPSAS 23 Revenue from Non-Exchange Contracts, contain guidance specific to NFP PBEs. •The PBE IPSAS definition of a related party does not necessarily include Joint Venture E and Associate F above. IPSAS 19 560 IPSAS 19—PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS Acknowledgment This International Public Sector Accounting Standard (IPSAS) is drawn primarily from International Accounting Standard (IAS) 37 (1998), “Provisions, Contingent Liabilities and Contingent Assets” published by the International Accounting %%EOF This Handbook contains the complete International Public Sector Accounting Standards, published as of January 31, 2019. 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