The International Public Sector Accounting Standards Board (IPSASB) has released new standards on service concession arrangements and annual improvements. IPSAS 32 ‘Service Concession Arrangements: Grantor’ creates symmetry with IFRIC 12 on relevant accounting issues (i.e. liabilities, revenues, and expenses) from the grantor’s point of view. The improvements amend existing IPSASs to maintain alignment with International Financial Reporting Standards (IFRSs), as well as other general improvements.