News Listings

Accounting Standards Oversight Council met on November 14, 2023, to discuss the Public Sector Accounting Board’s and the Accounting Standards Board’s activities and related matters. Read the full report for more information.

International Public Sector Accounting Standards Board (IPSASB) has released its 2024-2028 Strategy and Work Program Consultation. To ensure that Canadian perspectives are considered, and future standards serve the Canadian public interest, PSAB encourages you to respond to this Consultation. Submit your comments to PSAB by January 15, 2024.

Check out our resources and non-authoritative guidance to better understand PSAB’s Reporting Model in Section PS 1202, Financial Statement Presentation. The Reporting Model is effective for fiscal years beginning on or after April 1, 2026 – refer to these resources to learn how to apply this foundational standard for the public sector.

Read our In Brief, added to the resources, for an outline of the main concepts in the Conceptual Framework, what has changed, and how these amendments affect the user. PSAB’s new Conceptual Framework is effective for fiscal years beginning on or after April 1, 2026, and we have resources to help you prepare!

PSAB’s new Reporting Model is now available in the PSA Handbook. A significant milestone for financial reporting in the Canadian public sector, this new Reporting Model will help increase the accountability value and understandability of public sector entities’ financial statements for users.

The Board discussed updates related to the Director’s Report, the Due Process Review, Employee Benefits, Intangible Assets, Government Not-for-Profit, and more. Read the Decision Summary for full details.

Read these top 5 frequently asked questions as both a reminder and update in advance of coming decisions related to the IRCSS’ Final Report – decisions that will pave the way forward for standard setting in Canada for years to come.

Could changing existing accounting standards through scaling better meet the needs of entities of all sizes and those who use them? Share your experience and help the AcSB decide on the direction for this project. Public sector entities have until July 31, 2023, to weigh in.

The Board discussed updates related to the Public Sector Accounting Discussion Group, Employee Benefits, Intangible Assets, Government Not-For-Profit (GNFP), the Accounting Standards Board (AcSB), and more. Read the Decision Summary for full details.

Use our resources and non-authoritative guidance to better understand the Conceptual Framework and how to apply this foundational framework for the public sector. PSAB’s new Conceptual Framework is effective for fiscal years beginning on or after April 1, 2026, so start preparing now.