PSAB has been carefully monitoring the International Public Sector Accounting Standards Board’s (IPSASB) Tangible Natural Resources project since its inception in 2020. Based on the response to their 2022 Natural Resources Consultation Paper, IPSASB developed an Exposure Draft to address the issues relating to the recognition, measurement, and presentation of tangible natural resources.
As part of our international strategy initiatives, PSAB will submit a response to IPSASB’s Exposure Draft 92, Tangible Natural Resources. We are launching a series of consultation activities over the coming months to gather your feedback as we develop our response letter to IPSASB.
Through virtual roundtables and our online survey, we will engage with you to ensure Canadian-specific issues and perspectives are considered.
In accordance with our Strategic Plan, PSAB is also collaborating with IPSASB on sustainability reporting initiatives. As such, we will discuss the IPSASB Climate-related Disclosures Exposure Draft during our Tangible Natural Resources virtual roundtables to ensure we are getting your feedback on these related topics.