PSAB

Submit an Issue – PSAB Annual Improvements

November 13, 2018 News

The Public Sector Accounting Board (PSAB) approved its annual improvements process in 2018 to correct errors in the wording or clarify the CPA Canada Public Sector Accounting (PSA) Handbook or Statements of Recommended Practices (other guidance).

Participate in the Annual Improvements Process

Get your issues into PSAB by June 30, 2019 to ensure they are considered in the 2019-2020 Annual Improvements project!

Submit an Issue

The process

Our annual improvements process would be done in five steps:

  1. Collect submissions from our stakeholders on possible improvements.
  2. Determine if the suggestions meet the process’ criteria after analyzing them.
  3. Issue an Exposure Draft that includes proposals addressing issues that meet the criteria.
  4. Collect and analyze feedback on the Exposure Draft.
  5. Issue PSA Handbook amendments, along with a Basis for Conclusions.

Types of issues

There are two types of issues we hope to hear about from our stakeholders for this annual improvement process.

1. Corrections of errors

    These include:

  • resolving conflicts between existing requirements in the standards;
  • addressing oversights in creation of the standards or statements of recommended practices (other guidance); or
  • addressing unintended consequences in the existing requirements of standards or other guidance.

2. Clarifications of existing pronouncements

These would generally address:

  • unclear wording in the standards or other guidance; or
  • absence of guidance in the standards or other guidance.

Who can submit issues

All Canadians can identify issues and submit them to us for this annual improvement process.

Issues may also be identified by PSAB, PSAB’s committees, and staff.

Out of scope issues

Issues that are out of scope for our annual improvements process include:

  • proposing a new principle;
  • changing an existing principle; or
  • changing practice.

If we are notified about issues that are out of scope for our annual improvements process, they may be addressed by us through another process.

Contact

Joanna Chrzanowski, CPA, CA
Principal, Public Sector Accounting Board
Phone: +1 (416) 204-3466
Email: jchrzanowski@psabcanada.ca