News Listings

Watch these on-demand webinars for an overview of PSAB’s new Conceptual Framework and Reporting Model, including how you can start preparing for implementation.

The Accounting Standards Oversight Council met on February 27, 2024, to discuss the Public Sector Accounting Board’s and the Accounting Standard Board’s activities and related matters. Read the full report for more information.

Watch a recording of our February 1, 2024, webinar to learn more about key proposals in PSAB’s Exposure Draft, “Tangible Capital Assets, Proposed Amendments to Section PS 3150.” Viewing this webinar and successful completion of the quiz may count towards your CPD requirements.

The International Public Sector Accounting Standards Board (IPSASB) released two Exposure Drafts to address the lack of guidance on specific activities related to mineral resources: ED 86, Exploration for and Evaluation of Mineral Resources; and ED 87, Stripping costs in the Production Phase of a Surface Mine (Amendments to IPSAS 12). To ensure Canadian perspectives are considered, and future standards serve the Canadian public interest, we encourage you to respond to these Exposure Drafts if they are relevant to your entity or clients. Submit your comments directly to IPSASB by May 31, 2024.

In its narrow-scope amendment Exposure Draft, GAAP Designation of PSA Handbook Appendices, PSAB proposes to assign a higher level of authority under GAAP to four application guidance PSA Handbook Appendices. Tell us if you agree with the amendments and submit your feedback by April 11, 2024.

Do you have concerns or questions related to the application of the PSA Handbook? Or would you like to know more about emerging issues impacting public sector reporting? If so, submit an issue to the PSA Discussion Group for consideration! Submissions for our upcoming June 2024 meeting are due April 19, 2024.

PSAB has issued an Exposure Draft proposing amendments to “Tangible Capital Assets, Section PS 3150”. The amendments are a result of the review of Section PS 4230, Capital Assets Held by Not-for-Profit Organizations, and Section PS 4240, Collections Held by Not-for-Profit Organizations, as part of the GNFP Strategy implementation. Read the Exposure Draft to learn more and submit your feedback by April 15, 2024.

Read our In Brief for an overview of the Exposure Draft, “Tangible Capital Assets, Proposed Amendments to Section PS 3150." The proposals are a result of the review of Section PS 4230, Capital Assets Held by Not-for-Profit Organizations, and Section PS 4240, Collections Held by Not-for-Profit Organizations, as part of the Government Not-for-Profit Strategy implementation.

The Board discussed updates related to the Public Sector Accounting Discussion Group, Due Process review, GAAP Designations – Appendices, 2023-2024 Performance Report, 2024-2025 Annual Plan, International Public Sector Accounting Standards Board’s (IPSASB) Strategy and Workplan, an update from IPSASB, and more. Read the Agenda for full details. 

At its November meeting, the Group discussed natural resources inventory, scalability of standards, accounting for extreme weather, tangible capital assets, reporting climate-related impacts, and more. Read the Meeting Report for full details.