Public Sector Accounting Standards

Overview

Active Projects

2026-2027 Annual Improvements

PSAB approved the Exposure Draft, “2026-2027 Annual Improvements to Public Sector Accounting Standards” at its June 2026 meeting. The Exposure Draft was issued on July 14, 2026, with a comment deadline of September 18, 2026.

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Amendments to Accounting Changes, Section PS 2120

Project proposal approved by PSAB in March 2026

Cloud Computing Arrangements

PSAB reviewed the results of its Cloud Computing Arrangements Survey and will utilize this feedback in developing its guidance.

Employee Benefits

PSAB approved Employee Benefits, Section PS 3251 at its December 2025 meeting.

Section PS 3251, Employee Benefits, was issued in the March 2026 PSA Handbook update and is effective for fiscal years beginning on or after April 1, 2029.

Government Not-for-Profit: Contributions and Financial Statement Presentation

PSAB is reviewing the results of its survey to help inform the development of the exposure draft proposals.

Impairment of Assets Held for Service Potential

Project proposal approved by PSAB in March 2026

Intangible Assets

PSAB is currently deliberating feedback received on its Exposure Draft, “Intangible Assets, Proposed Section 3155”.

Response Booklet

PSAB 2027-2032 Strategic Plan

PSAB is conducting public outreach from July to October 2026

Consultation Paper

CPA Canada Handbook

The CPA Canada Public Sector Accounting Handbook contains all the public sector accounting standards, set by the Public Sector Accounting Board.

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News

June 26, 2026 News

Submit an Issue – Public Sector Accounting Discussion Group

The Public Sector Accounting Discussion Group wants to hear about emerging issues or CPA Canada Public Sector Accounting (PSA) Handbook application issues encountered when applying Public Sector Accounting Standards. Submit an issue for consideration by August 7, 2026.

June 15-16, 2026 Meeting Summary

PSAB Decision Summary – June 15-16, 2026

PSAB approved three responses to International Public Sector Accounting Standards Board documents for comment including the proposed changes to International Public Sector Accounting Standard 41 for the derecognition of liabilities. PSAB approved its Exposure Draft, “2026-2027 Annual Improvements,” which details minor revisions to the financial instruments suite of standards, and its Consultation Paper, “Founded on Trust, Ready for the Future: Draft 2027-2032 Strategic Plan.” The Board also analyzed feedback and provided direction on the Intangible Assets, Cloud Computing, and Government Not-for-Profit projects.

May 12, 2026 In Brief, News

In Brief – A plain and simple overview of PSAB’s new standard, Section PS 3251, Employee Benefits

The Public Sector Accounting Board has issued a new standard, Section PS 3251, Employee Benefits. This standard modernizes and consolidates employee benefits guidance for public sector entities. Read the In Brief for a plain and simple overview of the standard’s purpose, scope, and key changes.