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The IASB has issued an Exposure Draft proposing a new IFRS Standard to give investors a more complete picture of the financial performance of entities subject to rate regulation. Canadian stakeholders are encouraged to submit their comments to the IASB by June 30, 2021.

Tune in to this webinar on March 8, 2021 (English) or March 29, 2021 (French) to learn about the key proposals in PSAB’s Exposure Draft “The Conceptual Framework for Financial Reporting in the Public Sector.” Seats are limited. If you aren’t able to attend live, the webinar will be available on demand.

This article provides highlights from comment letters written by Boards and Councils responding to the IFRS Foundation Trustees Consultation Paper on Sustainability Reporting.

Are you struggling with an accounting issue? Need experts to weigh in on it? Submit an issue to the PSA Discussion Group for consideration. Submissions for our upcoming April meeting are due February 22, 2021.

PSAB is proposing a revised conceptual framework – the foundation for establishing public sector accounting standards for years to come. Read the Exposure Draft and Basis for Conclusions. Share your feedback on the proposals by May 12, 2021 via comment letter or participating in our survey on Connect.FRASCanada.ca.

PSAB is proposing consequential amendments to the PSA Handbook to be consistent with the proposals for a revised reporting model in Exposure Draft, “Financial Statement Presentation, Proposed Section PS 1202.” Share your feedback on the proposed consequential amendments by May 12, 2021 via comment letter or participating in our survey on Connect.FRASCanada.ca.

PSAB’s issued its Government Not-for-Profit Strategy Consultation Paper II to seek input on its recommended GNFP Strategy. This paper also informs readers of the feedback received to the first Consultation Paper, describes the options considered for a GNFP Strategy, and the decision-making criteria used to evaluate the options. Share your feedback on the GNFP Strategy Consultation Paper II by May 12, 2021 via a comment letter or by taking part in our quick poll and open forum on Connect.FRASCanada.ca.

PSAB is proposing consequential amendments to the PSA Handbook to be consistent with the proposals for a revised conceptual framework in Exposure Draft, “The Conceptual Framework for Financial Reporting in the Public Sector.” Share your feedback on the proposed consequential amendments by May 12, 2021 via comment letter or participating in our survey on Connect.FRASCanada.ca.

PSAB is proposing a revised reporting model,  building on the existing reporting model in Section PS 1201.  Read the Exposure Draft and Basis for Conclusions for full details.  Share your feedback on the proposed reporting model by May 12, 2021 via comment letter or participating in our survey on Connect.FRASCanada.ca.

The revised conceptual framework will be the foundation for establishing public sector accounting standards for years to come. This visual outlines the main concepts proposed for a revised conceptual framework in an easy-to-understand way – supporting your understanding of our proposals. Please note: The comment deadline for PSAB’s Exposure Draft, “Conceptual Framework for Financial Reporting in the Canadian Public Sector” is June 30, 2021.