News Listings

The Reporting & Assurance Standards Oversight Council is pleased to announce the appointment of Andrew Newman as the next Chair of the Public Sector Accounting Board, effective April 1, 2026.

PSAB approved Section PS 3251, Employee Benefits, and the narrow scope amendments to Statement of Recommended Practice -1. The Board also discussed initial recommendations for the Government Not-for-Profit (GNFP) Contributions and Financial Statement Presentation project, Cloud Computing Arrangements, and a preliminary draft of its 2027-2032 strategic plan. In addition, the Board received updates from the Indigenous Advisory Group and the Public Sector Accounting Discussion Group. Read the full Decision Summary for details!

PSAB invites interested and affected parties across Canada’s public sector to take the IPSASB Work Program Consultation Survey, open November 17, 2025, to February 17, 2026. Help shape global standards and ensure Canadian input is reflected.

The Group discussed Application of the Generally Accepted Accounting Principles Hierarchy to the amendments to IFRS 9 Financial Instruments, application issues for the Subsequent Measurement of Asset Retirement Obligations, and Considerations for Subsequent Events Disclosures. Read the meeting report for full details.

Have you faced any challenges applying Section PS 2601 (Foreign Currency Translation), Section 3041 (Portfolio Investments), or Section PS 3450 (Financial Instruments)? If so, we want to hear from you. Share your experience and complete our survey by December 12, 2025.

PSAB reviewed draft amendments to Proposed Section PS 3251, Employee Benefits, the feedback received to the Exposure Draft “Narrow-scope Amendments: SORP-1 Consistency Updates,” the initial survey for the GNFP Contributions and Financial Statement Presentation project, and the timeline for developing its next Strategic Plan. The Board also received updates from recent Indigenous Advisory Group and the Government Not-for-Profit Advisory Group meetings and approved the Post-implementation Review Assessment project proposal for Financial Instruments. Read the full Decision Summary for details!

The GNFP Strategy and Implementation Plan Update webinar was held on September 11, 2025. The session covered key amendments to Section PS 3150, Tangible Capital Assets, and the upcoming standard-level combined project, Contributions and Financial Statement Presentation.

This webinar was hosted by Bill Cox, Government Not-For-Profit Advisory Committee Chair; and Amanda Senkowski, Principal, Public Sector Accounting, Standards.

The Reporting and Assurance Standards Oversight Council and the Standard-setting Boards have released their 2024-2025 Annual Reports, highlighting oversight efforts, standards activity, and engagement that demonstrate transparency and accountability. Read the reports to learn more about their respective years in review.

PSAB is seeking a new Chair to lead the strategic direction of public sector accounting standards. The Chair plays a pivotal role in guiding the Board’s work, ensuring the integrity and independence of the standard-setting process. Interested candidates should apply by August 22, 2025.

The revised CAS 570, Going Concern, issued on June 1, 2025, brings changes to the auditor's expectations for management’s going concern assessment timeline. Read our joint communication with PSAB and the AcSB for details.