News Listings

PSAB will soon initiate a project to review its standards on Contributions – part of our Government Not-for-Profit (GNFP) Strategy implementation plan. Did you know that the Accounting Standards Board (AcSB) currently has its Exposure Draft, “Contributions – Revenue Recognition and Related Matters” out for public comment? GNFPs interested in providing feedback have until September 30, 2023 to weigh in.

Building from the groundwork of our 2022-2027 Strategic Plan, PSAB has continued working to strengthen the foundation of Canadian public sector accounting standards, successfully completing several key strategic initiatives. Read about PSAB’s 2022-2023 activities and accomplishments in this year’s Annual Report.

This Annual Plan sets out the Board’s key activities and project milestones in 2023-2024. Read the plan for details of how PSAB will work with its partners to meet the objectives of the Strategic Plan.

The Board discussed updates related to the Annual Report 2022-2023, the Reporting Model, the Technical Advisory Group (TAG), the Indigenous Advisory Group (IAG), Employee Benefits, and more. Read the Decision Summary for full details.

Do you have concerns or questions related to the application of the PSA Handbook? Submit an issue to the PSA Discussion Group for consideration. Submissions for our upcoming June 2023 meeting are due April 17, 2023.

The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.

The Board discussed the creation of the Indigenous Advisory Group (IAG), the Technical Advisory Group (TAG), and the Financial Statement Presentation Standard (“Reporting Model”). Read the Decision Summary for full details.

PSAB encourages stakeholders to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 84, Concessionary Leases and Right-of-Use Assets In-kind. Respond directly to IPSASB by May 17, 2023, to ensure Canadian-specific issues and perspectives related to concessionary leases and right-of-use assets in-kind are considered.

The Board discussed the Future Work Plan Consultation, 2023-2024 Draft Annual Plan & Risk Assessment, and the Financial Statement Presentation Standard (“Reporting Model”). Read the Decision Summary for full details.

Watch our videos to learn about the International Public Sector Accounting Standards Board (IPSASB) and its accounting standards for public sector entities, related to routine transactions of assets, liabilities, revenues and expenses.