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Public Sector Accounting Standards

Overview

Active Projects

Concepts Underlying Financial Performance

Conceptual Framework: PSAB has approved the Conceptual Framework for Financial Reporting in the Public Sector and a series of consequential amendments to various standards in the PSA Handbook. This Conceptual Framework and related consequential amendments have now been published in the PSA Handbook and will be effective for fiscal years beginning on or after April 1, 2026. A comprehensive package of plain language documents and non-authoritative guidance will be issued in due time to help interested and affected parties understand the various aspects of the new Conceptual Framework.

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Employee Benefits

PSAB is currently deliberating feedback received on the Employee Benefits Exposure Draft

Exposure Draft
Government Not-for-Profit: Capital Assets

PSAB approved the Exposure Draft, “Tangible Capital Assets, Proposed Amendments to Section PS 3150” for public consultation at its September 2023 meeting

Exposure Draft
Intangible Assets

Project approved September 2023​

Narrow Scope Amendment: GAAP Designation of PSA Handbook Appendices

PSAB issued its Exposure Draft, “Narrow Scope Amendment: GAAP Designation of PSA Handbook Appendices”, in February 2024

Exposure Draft

CPA Canada Handbook

The CPA Canada Public Sector Accounting Handbook contains all the public sector accounting standards, set by PSAB. Its available in print and online. 

Get the Handbook

News

March 27, 2024 News
Request for Feedback: Post-implementation Review Assessment – PSAB’s Section 3430, Restructuring Transactions

Have you encountered any issues while applying PSAB’s Section PS 3430, Restructuring Transactions? If so, we want to hear from you! Answer our short question to tell us more.

February 27 - March 19, 2024 Meeting, Video, Webinar, News
Webinars – PSAB’s New Conceptual Framework for Financial Reporting in the Canadian Public Sector and PSAB’s New Reporting Model (Section PS 1202, Financial Statement Presentation)

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.

February 14, 2024 International Activity, News
IPSASB issues two Exposure Drafts related to Natural Resource Project

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.