Stephenie Fox Technical Director International Public Sector Accounting Standards Board International Federation of Accountants 277 Wellington Street, 4th Floor Toronto Ontario M5V 3H2 30 April 2013 Date CANADA Our ref 1 of 4 Pages Submitted electronically Dear Stephenie Fox IPSASB Exposure Draft CF-ED3 Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Measurement of Assets and Liabilities in Financial Statements The Auditor General for Wales welcomes the opportunity to comment on this IPSASB Exposure Draft. This response has been prepared on behalf of the Auditor General by the Wales Audit Office. The Auditor General, and the auditors he appoints, are responsible for audits of the Welsh devolved public sector, which includes: The Welsh Government; Welsh Government sponsored and other related bodies; Local government bodies in Wales; Local health bodies in Wales; and Certain publicly owned companies. We are fully supportive of the development by IPSASB of a conceptual framework to underpin the development of a comprehensive and high quality suite of financial reporting standards for the public sector. We welcome the next stage of the development by IPSASB of its conceptual framework, including the statement in Paragraph 1.1 that the Exposure Draft proposes measurement bases to be used only in general purpose financial statements, before addressing the other aspects of financial reporting (such as prospective financial information) that are covered in the conceptual framework.
Date 30 April 2013 Our ref Pages 1 of 4 Stephenie Fox Technical Director International Public Sector Accounting Standards Board International Federation of Accountants 277 Wellington Street, 4th Floor Toronto Ontario M5V 3H2 CANADA Submitted electronically Dear Stephenie Fox IPSASB Exposure Draft CF-ED3 Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities: Measurement of Assets and Liabilities in Financial Statements The Auditor General for Wales welcomes the opportunity to comment on this IPSASB Exposure Draft. This response has been prepared on behalf of the Auditor General by the Wales Audit Office. The Auditor General, and the auditors he appoints, are responsible for audits of the Welsh devolved public sector, which includes: The Welsh Government; Welsh Government sponsored and other related bodies; Local government bodies in Wales; Local health bodies in Wales; and Certain publicly owned companies. We are fully supportive of the development by IPSASB of a conceptual framework to underpin the development of a comprehensive and high quality suite of financial reporting standards for the public sector. We welcome the next stage of the development by IPSASB of its conceptual framework, including the statement in Paragraph 1.1 that the Exposure Draft proposes measurement bases to be used only in general purpose financial statements, before addressing the other aspects of financial reporting (such as prospective financial information) that are covered in the conceptual framework.
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