The Accounting Standards Board has published the new draft financial reporting standards, incorporating the standard for public benefit entities into the wider financial reporting standard.

The new standards are out for consultation until 30 April 2012.

CFDG said it would be responding to the latest consultation to ensure the proposed standards do not impose disproportionate burdens on charities. 

A spokeswoman said: “As expected the FRSPBE has been incorporated into the wider financial reporting standard.  Standards that are specific to Public Benefit Entities can now be found in FRED 48 which is the proposed new Financial Reporting Standard applicable in the UK and Republic of Ireland.”