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November 2, 2023

International Activity, News, Article

IPSASB issues 2024-2028 Strategy and Work Program Consultation

International Public Sector Accounting Standards Board (IPSASB) has released its 2024-2028 Strategy and Work Program Consultation. To ensure that Canadian perspectives are considered, and future standards serve the Canadian public interest, PSAB encourages you to respond to this Consultation. Submit your comments to PSAB by January 15, 2024.

October 11, 2023

News, Resource, Guidance

PSAB’s Reporting Model: Resources

Check out our resources and non-authoritative guidance to better understand PSAB’s Reporting Model in Section PS 1202, Financial Statement Presentation. The Reporting Model is effective for fiscal years beginning on or after April 1, 2026 – refer to these resources to learn how to apply this foundational standard for the public sector.

October 5, 2023

Resource

In Brief – A plain and simple overview of the Conceptual Framework for Financial Reporting in the Public Sector: then and now

Read our In Brief, added to the resources, for an outline of the main concepts in the Conceptual Framework, what has changed, and how these amendments affect the user. PSAB’s new Conceptual Framework is effective for fiscal years beginning on or after April 1, 2026, and we have resources to help you prepare!

October 3, 2023

News, Resource

PSAB's new Reporting Model Issued

PSAB’s new Reporting Model is now available in the PSA Handbook. A significant milestone for financial reporting in the Canadian public sector, this new Reporting Model will help increase the accountability value and understandability of public sector entities’ financial statements for users.

September 28-29, 2023

Meeting Summary

PSAB Decision Summary – September 28-29, 2023

The Board discussed updates related to the Director’s Report, the Due Process Review, Employee Benefits, Intangible Assets, Government Not-for-Profit, and more. Read the Decision Summary for full details.

August 31, 2023

News

Top 5 FAQs – Independent Review Committee on Standard Setting in Canada Final Report Recommendations

Read these top 5 frequently asked questions as both a reminder and update in advance of coming decisions related to the IRCSS’ Final Report – decisions that will pave the way forward for standard setting in Canada for years to come.

July 27, 2023

News, Volunteer Opportunity

Volunteer Opportunity – Public Sector Accounting Board

Are you interested in driving public sector accounting standard-setting in Canada? Do you want to help ensure that these standards are set in the public interest? If so, PSAB has a great opportunity for you! Learn more about the role and apply by September 30, 2023.

July 7, 2023

News

Calling on Public Sector Entities – Respond to AcSB’s Consultation Paper I – Exploring Scalability in Canada

Could changing existing accounting standards through scaling better meet the needs of entities of all sizes and those who use them? Share your experience and help the AcSB decide on the direction for this project. Public sector entities have until July 31, 2023, to weigh in.

June 27-28, 2023

Meeting Summary

PSAB Decision Summary – June 27-28, 2023

The Board discussed updates related to the Public Sector Accounting Discussion Group, Employee Benefits, Intangible Assets, Government Not-For-Profit (GNFP), the Accounting Standards Board (AcSB), and more. Read the Decision Summary for full details.


June 22, 2023

Resource, Guidance

The Conceptual Framework: Resources to help you prepare

Use our resources and non-authoritative guidance to better understand the Conceptual Framework and how to apply this foundational framework for the public sector. PSAB’s new Conceptual Framework is effective for fiscal years beginning on or after April 1, 2026, so start preparing now.