Consultation response

5 February 2016

FEE submits views on IPSASB’s consultation paper on social benefits

 

The provision of social benefits (such as unemployment benefits, state pensions, sickness benefits, etc.) represents a significant proportion of government expenditure in most EU Member States. The accounting treatment of social benefits is a key public sector issue and has been lacking in the IPSASs so far. This consultation is the IPSASB’s latest initiative to push forward with the development of the standard. It discusses three possible approaches: the obligating event approach, the social contract approach, and the insurance approach.

The federation of European accountants welcomes this initiative, and supports the IPSASB’s preliminary conclusion that a combination of the obligating event approach and the insurance approach is the best way forward. For more information please see the complete response below.

Related files

Response to IPSASB Consultation Paper – Recognition and Measurement of Social Benefits

 

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