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IPSASB: Accounting for Service Concession Arrangements by Grantors
Last Update - 22/02/2010
The International Public Sector Accounting Standards Board (IPSASB) is seeking comments on an exposure draft (ED) that addresses accounting for service concession arrangements by the grantor. Service concession arrangements, often called Private Public Partnerships or PPPs, involve an operator providing services to the public on behalf of a grantor-usually the government or another public sector entity. For many countries, such arrangements are a means to ensure large-scale, infrastructure projects, such as the building of roads and airports, can be developed and provided to the public for use. However, in some cases, they are not recognised in the financial statements, effectively concealing the financial position of the grantor.
Please click here for the IFAC press release. |
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