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PSAB

Public Sector Accounting Board

About PSAB

The Public Sector Accounting Board (PSAB) was created to serve the public interest by establishing accounting standards for the public sector. We also provide guidance for financial and other performance information reported by the public sector.

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PSAB Annual Plan 2024-2025

This year, PSAB will continue to develop relevant, high-quality accounting standards for use in the public sector. This includes advancing key projects like Intangible Assets and Employee Benefits, as well as the Government Not-for-Profit-related Tangible Assets and Contributions projects. As we continue to drive our key strategies forward, holding regular Indigenous Advisory Group and Technical Advisory Group meetings are priorities for our Board. Read more about next steps in our Plan, including how we will share the Canadian public sector perspective to support global and forward-looking initiatives.

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Upcoming meetings & events

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June 7, 2024 Public Sector Accounting Discussion Group Meeting – June 7, 2024 1:00 p.m. - 4:00 p.m. ET

Join us as an observer for our upcoming Public Sector Accounting Discussion Group meeting on Friday, June 7, 2024. Register now to attend the meeting remotely (conducted in English with live French translation). Stay tuned for the full agenda.

Meeting & event summaries

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March 26, 2024 PSAB Decision Summary – March 26-27, 2024

PSAB discussed topics including Intangible Assets, post-implementation review assessment, “Employee Benefits, Proposed Section 3251,” International Public Sector Accounting Standards Board’s (IPSASB) “Strategy and Work Program 2024-2028: Consultation,” and more. Read the Decision Summary for full details.

December 7, 2023 PSAB Decision Summary – December 7, 2023

The Board discussed updates related to the Public Sector Accounting Discussion Group, Due Process review, GAAP Designations – Appendices, 2023-2024 Performance Report, 2024-2025 Annual Plan, International Public Sector Accounting Standards Board’s (IPSASB) Strategy and Workplan, an update from IPSASB, and more. Read the Agenda for full details. 

November 28, 2023 Now Available! Meeting Report from PSA DG Meeting – November 16, 2023

At its November meeting, the Group discussed natural resources inventory, scalability of standards, accounting for extreme weather, tangible capital assets, reporting climate-related impacts, and more. Read the Meeting Report for full details. 

News

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May 3, 2024 International Activity
IPSASB issues Exposure Draft 89, “Amendments to Consider IFRIC Interpretations”

PSAB encourages interested and affected parties to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 89, “Amendments to Consider IFRIC Interpretations.” Respond directly to IPSASB by June 17, 2024, to ensure Canadian-specific issues and perspectives related to the proposed amendments are considered.

April 9, 2024 International Activity
IPSASB issues Exposure Draft (ED) 88, Arrangements Conveying Rights over Assets (Amendments to IPSAS 47 and IPSAS 48)

PSAB encourages interested and affected parties to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 88, Arrangements Conveying Rights over Assets (Amendments to IPSAS 47 and IPSAS 48). Respond directly to IPSASB by May 31, 2024, to ensure Canadian-specific issues and perspectives are considered.

April 1, 2024 News
Canada’s Reporting and Assurance Oversight Councils Announce Transition to Single Oversight Council for Streamlined Standard Setting

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.