Public Sector Accounting Discussion Group Meetings

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. 

At its June meeting, the Group discussed the impacts of rising inflation and economic environment on financial reporting, public sector considerations for the Auditor’s reporting on Going Concern, and more. Read the Meeting Report for full details.

Topics discussed include cloud computing, carbon credits, statement of cash flows, Public Sector Accounting (PSA) Handbook issue, and more. Read the Meeting Report for full details.

At its May 2022 meeting, the Group discussed International Public Sector Accounting Standards Board’s (IPSASB) Consultation Paper on Sustainability Reporting, Climate-related Issues including considerations under Public Sector GAAP and SORPs, and General Application Standards. Read the Meeting Report for full details.

Topics discussed included the recognition of embedded derivatives as part of implementing Section PS 3450, as well as the emerging issue involving accounting for natural capital.

Topics discussed included issues in applying the modified retroactive transition method for Asset Retirement Obligations, Section PS 3280 to a building with asbestos and to a fully depreciated asset still in productive use. The Group also discussed the reporting model exposure draft proposal to split liabilities into financial and non-financial categories, and PSAB’s proposed approach to its GNFP Strategy in Consultation Paper II.

Topics discussed included the private sector counterparts aspect of the government not-for-profit organization (GNFPO) definition, determining when for-profit activities of a GNFPO may impact its classification as such, and an emerging issues roundtable offering suggestions for PSAB to consider.

Topics included cloud computing arrangements that are services and first-time consolidation of a governmental unit when there is a change in control.

Topics discussed were government business enterprises, user fees versus taxes, climate change and sustainable finance, and PSAB’s GNFP Consultation Paper. Read the report for full details.

Topics discussed were Purchased intangibles, developer agreements, international strategy, contractual rights, taxes levied for specific purposes, and more. Read the report for full details.