News Listings

At its recent meeting, the Board discussed the International Strategy project and updates to the GAAP hierarchy. Read the Decision Summary for full details.

The IPSASB released Exposure Draft 75, Leases, which proposes aligning with IFRS 16. For lessees, the proposals include a right-of-use model to replace the risks and rewards incidental to ownership model in IPSAS 13, Leases. For lessors, ED 75 proposes to substantially carry forward the risks and rewards incidental to ownership model in IPSAS 13. PSAB encourages stakeholders to send comments to the IPSASB until May 17, 2021.

IPSASB has issued a Request for Information, Concessionary Leases and Other Arrangements Similar to Leases. PSAB is encouraging Canadian stakeholders to send in information on any Concessionary Leases and Arrangements Similar to Leases that they have experienced or know of in Canada. Your responses will assist the IPSASB in considering Canadian issues in the second phase of its Leases project. We encourage stakeholders to send comments to the IPSASB until May 17, 2021.

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.