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PSAB Decision Summary – December 11, 2020

This summary of decisions of the Public Sector Accounting Board (PSAB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects, which might change after further deliberations by PSAB. Decisions to publish exposure draft and Handbook material are final only after a formal ballot process.

Other Matters

International Strategy

PSAB reviewed and approved updated versions of its Terms of Reference, Statement of Operating Procedures and Standard-Setting Due Process Manual for the Accounting Standards Oversight Council’s (AcSOC’s) approval. AcSOC will review and approve the documents at its February 2021 meeting. 

Consultation Paper on Sustainable Reporting

The Trustees of the IFRS Foundation published a Consultation Paper (CP) on Sustainability Reporting in September 2020, with responses due December 31, 2020. 

PSAB approved a response letter to IFRS Trustees indicating that the public sector be considered in any initiative to set global standards or sustainability reporting guidelines.

PSAB’s response, and all other responses to the Consultation Paper, will be publicly available on the IFRS website following the consultation period.