## GFSM 2014 update — GFS Notice of Decision 1.25 Relationship between SNA and IPSAS/IFRS

## Source details

**Canonical URL:** [GFSM 2014 update — GFS Notice of Decision 1.25 Relationship between SNA and IPSAS/IFRS](https://www.imf.org/-/media/files/data/statistics/gfsm/global-consultations/research-projects/notice-of-decision-gfsm-2014-update-125-relationship-between-sna-and-ipsasifrs.pdf)

## Other formats

- [Markdown version](/-/media/files/data/statistics/gfsm/global-consultations/research-projects/notice-of-decision-gfsm-2014-update-125-relationship-between-sna-and-ipsasifrs.pdf.md)
- [Structured JSON version](/-/media/files/data/statistics/gfsm/global-consultations/research-projects/notice-of-decision-gfsm-2014-update-125-relationship-between-sna-and-ipsasifrs.pdf.json)

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### Decision summary
- The relationship between GFS and International Public Sector Accounting Standards (IPSAS) will be researched through the GFSM Update research project 2.27 (Relationship between GFS and IPSAS).
- Within the same research project consideration will be given to also highlighting key differences between GFS and the International Financial Reporting Standards (IFRS).
- The final language used in the updated GFSM will be subject to review during the manual drafting phase to ensure consistency throughout the updated GFSM.

### Research scope and linkage
- Primary research vehicle: GFSM Update research project 2.27 (Relationship between GFS and IPSAS).
- Research will explicitly address:
  - The relationship between GFS and IPSAS.
  - Key differences between GFS and IFRS.
- Note: The Proposed Recommendations (PR) did not explicitly mention the IPSAS/IFRS interlinkage; in response to feedback from the global consultation this interlinkage has been made explicit.

### Timeline and consultations
- GFS Global Consultations: April 2025
- Discussions at GFSAC Meeting(s): May 2025
- SNA/BPM related engagement:
  - Guidance/Issue Note: SNA/BPM Action Point 5
  - Discussions at the AEG/BOPCOM Meeting(s): AEG: March 2023
  - Global Consultation(s): Not applicable

### Related GFS documents and statuses
- GFS Proposed Recommendations Document: GFSM PR 1.25
- GFS Discussion Note: Not applicable

### Implementation and drafting note
- The final wording in the updated GFSM will be reviewed during the manual drafting phase to ensure consistency across the updated GFSM.

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_Source: https://www.imf.org/-/media/files/data/statistics/gfsm/global-consultations/research-projects/notice-of-decision-gfsm-2014-update-125-relationship-between-sna-and-ipsasifrs.pdf_