Public Sector Accounting Discussion Group
PSAB received an update from the Public Sector Accounting Discussion Group on their November 13, 2025, meeting and reviewed a summary of the discussion. The Group will post the meeting report in January 2026.
Government Not-For-Profit: Contributions and Financial Statement Presentation
PSAB received an update from the Government Not-For-Profit Advisory Committee (GNFP AC) on four of the key issues that are being addressed by the Government Not-For-Profit Contributions and Financial Statement Presentation project. PSAB provided direction, in principle, on the GNFP AC preliminary recommendations to address the issues.
PSAB is seeking feedback from interested and affected parties on current accounting practices to inform the development of proposals. The survey is live and open for comment until March 5, 2026.
Employee Future Benefits
PSAB reviewed and approved Section PS 3251, Employee Benefits, accompanying Basis for Conclusions, and the consequential amendments resulting from Section PS 3251.
The standard will be issued March 2026, with an effective date of April 1, 2029. It will be accompanied by plain-language materials designed to help interested and affected parties understand the new standard. Early adoption is permitted.
Statement of Recommended Practice (SORP) – 1
PSAB reviewed and approved the draft final amendments to SORP-1 and accompanying Basis for Conclusions. The narrow scope amendments align the SORP-1 guidance with the new Conceptual Framework and Reporting Model (in Section PS 1202).
The guidance will be published in the Public Sector Handbook in March 2026, in alignment with the effective dates of the new Conceptual Framework and Reporting Model.
Cloud Computing Arrangements
The Cloud Computing Arrangements Task Force provided an overview of cloud computing arrangements, the findings from PSAB’s Cloud Computing Arrangements survey, and the ongoing work on key project issues. The Task Force plans to present recommendations on key issues for Board consideration in 2026.
Indigenous Advisory Group Update
Indigenous Advisory Group (IAG) Chair, Scott Munro, provided an update to PSAB about the IAG meeting held on November 25, 2025.
2027- 2032 Strategic Plan
PSAB discussed a preliminary draft of its 2027-2032 strategic plan. The Board expects to issue its draft strategic plan for comment in the second quarter of 2026.
Annual Plan and Performance Reporting
PSAB reviewed the 2025-2026 Interim Performance Report and draft 2026-2027 Annual Plan. PSAB staff expect to present the 2026-2027 Annual Plan to the Board for approval in March 2026. Once approved, it will be made public.