The International Public Sector Accounting Standards Board (IPSASB) is an independent non-profit organization that is responsible for adapting IFRS standards to suit public sector accounting. IPSASB is the refoundation in 2004 of the Public Sector Committee (PSC) established in 1986.

For public sector entities to account for their leases, IPSAS 43 is effective since January 1, 2025. It replaces IPSAS 13 and is aligned with IFRS 16. Nevertheless, to consider the importance of concessionary leases in the public sector, a dedicated amendment has been published in 2024 to be effective on January 1, 2027.