The International Public Sector Accounting Standards Board (IPSASB) consulted on Exposure Draft 92, Tangible Natural Resources. The draft standard is to propose guidance on the recognition, measurement, display and disclosure of tangible natural resources. The FMB said the standard needs to include options for public sector entities to disclose a tangible natural resource because of their stewardship of the asset, based on principles set out in the United Nations Declaration on the Rights of Indigenous Peoples. The FMB also said that the concerns of Indigenous respondents need to be more seriously considered by the IPSASB.
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