Page 11 - Public Sector Accounting Board 2014/15 Annual Report
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Overview of Accomplishments 9

significant number of observers (over 30 in the last two meetings). PSAB reviewed the terms
of reference for the Group, assessed the contribution being made and concluded that it is
successful.
• AcSOC members attending the January 2015 meeting provided positive comments about
the discussion. Four members with terms ending in March 2015 have been reappointed
for a two-year term ending March 2017.

Extensive Outreach

• A total of 19 presentations were made, reaching over 1,900 individuals representing all levels
of government, government organizations and a wide range of individuals.

• The annual Public Sector Financial Reporting Conference was attended by over 350 people
from across Canada including 50 participants via broadcast on the internet. Among others,
presentations were made by Board and task force members and staff. Evaluations of the
conference indicate a high satisfaction rate.

• Two face-to-face meetings and two conference calls were held with stakeholders to discuss
issues relating to the implementation of financial instruments.

• One meeting was held with the deputy ministers of finance at their annual symposium
as well as a presentation at the Intergovernmental Budget Conference.

• A total of four webinars were provided on restructuring transactions and not-for-profit
accounting, with an average of 2,700 English-speaking participants and 380 French-
speaking participants for each presentation.

• PSAB continues to be one of the top “go to” Web destinations within the Financial Reporting
and Assurance Standards Canada website in terms of both visits and duration of visits.

• Two articles were published in the CPA Canada Magazine, “A Look at Pensions,” and “Why
PSAB Matters”, one online as a PSAB Matters Article, “Disclosing Segment Information
Enhances Transparency and Accountability,” and one in the CFA Society Toronto magazine,
The Analyst, “Can We Afford It?”

• PSAB also drafted its first public interest statement for Section PS 3450, Financial
Instruments, contributing to improving an understanding as to why PSAB believes
this standard is in the public interest.

Government Organizations Using Not-for-profit GAAP

• PSAB held a joint meeting with the Accounting Standards Board (AcSB) to discuss issues
raised in the responses to the statement of principles to develop questions requiring review.
Subsequently, PSAB reassessed its overall strategy in terms of users, users’ needs,
understanding organizational characteristics and the decisions being made by users.
A survey of compliance with the CPA Canada Public Sector Accounting (PSA) Handbook by
these organizations in the public sector and a review of how other standard-setters address
the issues of not-for-profit organizations were considered.

• In March 2015, PSAB held further discussions with the AcSB to consider a number of
fundamental issues needing to be addressed prior to initializing specific project-related
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