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April 9, 2024

International Activity

IPSASB issues Exposure Draft (ED) 88, Arrangements Conveying Rights over Assets (Amendments to IPSAS 47 and IPSAS 48)

PSAB encourages interested and affected parties to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 88, Arrangements Conveying Rights over Assets (Amendments to IPSAS 47 and IPSAS 48). Respond directly to IPSASB by May 31, 2024, to ensure Canadian-specific issues and perspectives are considered.

April 1, 2024

News

Canada’s Reporting and Assurance Oversight Councils Announce Transition to Single Oversight Council for Streamlined Standard Setting

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.   

March 31, 2024

News

Appointments, Reappointments, and Retirements – AcSOC

AcSOC is pleased to announce the appointments and reappointments for the AcSB and PSAB. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.

March 28, 2024

News

PSAB Annual Plan 2024-2025

This year, PSAB will continue to develop relevant, high-quality accounting standards for use in the public sector. This includes advancing key projects like Intangible Assets and Employee Benefits, as well as the Government Not-for-Profit-related Tangible Assets and Contributions projects. As we continue to drive our key strategies forward, holding regular Indigenous Advisory Group and Technical Advisory Group meetings are priorities for our Board. Read more about next steps in our Plan, including how we will share the Canadian public sector perspective to support global and forward-looking initiatives.

March 27, 2024

News

Request for Feedback: Post-implementation Review Assessment – PSAB’s Section 3430, Restructuring Transactions

Have you encountered any issues while applying PSAB’s Section PS 3430, Restructuring Transactions? If so, we want to hear from you! Answer our short question to tell us more.

February 27 - March 19, 2024

Meeting, Video, Webinar, News

Webinars – PSAB’s New Conceptual Framework for Financial Reporting in the Canadian Public Sector and PSAB’s New Reporting Model (Section PS 1202, Financial Statement Presentation)

Register now for the webinars on PSAB's new Conceptual Framework and PSAB's new Reporting Model, taking place on February 27 and March 19, 2024, respectively.”

February 23, 2024

Resource, Webinar

On-demand Webinar – Exploring PSAB’s Exposure Draft, “Tangible Capital Assets, Proposed Amendments to Section PS 3150”

Watch a recording of our February 1, 2024, webinar to learn more about key proposals in PSAB’s Exposure Draft, “Tangible Capital Assets, Proposed Amendments to Section PS 3150.” Viewing this webinar and successful completion of the quiz may count towards your CPD requirements.

February 14, 2024

International Activity, News

IPSASB issues two Exposure Drafts related to Natural Resource Project

The International Public Sector Accounting Standards Board (IPSASB) released two Exposure Drafts to address the lack of guidance on specific activities related to mineral resources: ED 86, Exploration for and Evaluation of Mineral Resources; and ED 87, Stripping costs in the Production Phase of a Surface Mine (Amendments to IPSAS 12). To ensure Canadian perspectives are considered, and future standards serve the Canadian public interest, we encourage you to respond to these Exposure Drafts if they are relevant to your entity or clients. Submit your comments directly to IPSASB by May 31, 2024.

February 8, 2024

Document for Comment

Exposure Draft Issued: PSAB Proposes to Assign Higher Authority to Four Application Guidance Appendices

In its narrow-scope amendment Exposure Draft, GAAP Designation of PSA Handbook Appendices, PSAB proposes to assign a higher level of authority under GAAP to four application guidance PSA Handbook Appendices. Tell us if you agree with the amendments and submit your feedback by April 11, 2024.

January 18, 2024

News

Submit an Issue to the PSA Discussion Group

Do you have concerns or questions related to the application of the PSA Handbook? Or would you like to know more about emerging issues impacting public sector reporting? If so, submit an issue to the PSA Discussion Group for consideration! Submissions for our upcoming June 2024 meeting are due April 19, 2024.