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PSAB Decision Summary – June 27-28, 2023

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. For more information, please contact Michael Puskaric, Director at PSAB at [email protected].

Public Sector Accounting Discussion Group

PSAB received an update on the Public Sector Accounting Discussion Group’s meeting held on June 8, 2023, and reviewed a summary of the discussion. The Group will post the meeting report on its webpage by late July 2023.

Employee Benefits

PSAB discussed feedback on the proposed discount rate guidance in the Exposure Draft “Employee Benefits, Proposed Section 3251,” and considered options for simplifying the proposed guidance.

The Board will continue to review options for the discount rate guidance at a future Board meeting.

Intangible Assets

PSAB reviewed and provided feedback on the draft project proposal for Intangible Assets. A final version of the project proposal will be presented for the Board's approval in September 2023.

Government Not-For-Profit (GNFP)

PSAB received an overview of key issues identified as part of the GNFP Capital Assets project. The project entails a review of Section PS 4230, Capital Assets Held by Not-for-Profit Organizations and Section PS 4240, Collections Held by Not-for-Profit Organizations to determine what amendments might be proposed to PS 3150, Tangible Capital Assets. The Board provided further direction that will assist the GNFP Advisory Committee to develop an exposure draft and the accompanying Basis for Conclusions for approval at the Board’s meeting in December 2023.