Public Benefit Entities - Applying PBE IPSAS 41 Financial Instruments

As PBE IPSAS 41 Financial Instruments has come into effect from 1 January 2022, many Public benefit Entities (PBEs) are currently coming to terms with the new recognition, measurement, presentation, and disclosure requirements for financial instruments, especially those for financial assets.

To assist entities with coming to terms with the new standard, the External Reporting Board (XRB) has issued a fact sheet and a number of FAQs explaining the key changes in the new standard and how to apply them.

The fact sheet and FAQs can be found on the XRB’s website here.

In addition please refer to our prior Accounting Alert articles on the topic:

  • Public Benefit Entities Face Substantial Changes to Accounting for Financial Instruments
February 2021
  • Classification and Measurement of Financial Assets Under PBE IPSAS 41
March 2021
  • Two Key Tests Drive Classification of Financial Assets Under PBE IPSAS 41
April 2021
  • Measurement of Financial Assets Under PBE IPSAS 41
May 2021
  • Impairment of financial assets under PBE IPSAS 41
July 2021
  • Financial liabilities under PBE IPSAS 41
August 2021


For more on the above, please contact your local BDO representative.

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