The AASB released as ITC 16 the International Public Sector Accounting Standards Board (IPSASB) consultation paper entitled Accounting and Financial Reporting for Service Concession Arrangements.  
 
The paper identifies issues and provides proposals to be considered in the development of international guidance for grantors (typically public sector entities) of service concession arrangements. 
 
Joint Submission 
The Institute together with CPA Australia and NIA this week lodged its submission on ITC 16 Request for Comment on IPSASB Consultation Paper Accounting and Financial Reporting for Service Concession Arrangements with the Australian Accounting Standards Board (AASB) and the International Public Sector Accounting Standards Board (IPSASB).  
 
Overall, the submission supported the IPSASB proposals, although some concerns were expressed about the absence of the accountability concept in the AASB Framework and the control criteria.  
 
The joint submission can be dowloaded here. 
 
This article was taken from ANT26/2008 and is current up to 11 July 2008