In our 2024-2025 Annual Improvements Exposure Draft, we propose the Handbook improvements listed below. Please tell us whether you agree with our proposals, and if not, please explain why.
- To change terminology from “government” to “public sector entity,” “entity,” or another appropriate term in certain sections of the PSA Handbook.
- To replace the term “reliability” with “faithful representation” because of terminology changes introduced in the Conceptual Framework.
- To update references to “presentation and disclosure” to align with consequential amendments arising from the new Conceptual Framework.
- To replace the reference from Section PS 1201, Financial Statement Presentation to Section PS 1202, Financial Statement Presentation in Appendix A of Section PS 3060, Interest in Partnerships.
- To appropriately align references to verifiability introduced in the new Conceptual Framework.
- To separate the italicized principle from the non-italicized guidance in First-time Adoption by Government, paragraph PS 2125.08.
- To remove references to LIBOR and replace them with a reference to SOFR in Section PS 3450, Financial Instruments.
- To change title of the decision tree to Appendix A in Section PS 3160, Public Private Partnerships.
