Public Sector Accounting Standards

Consultation Paper 1, Characteristics of Public Sector Entities


This Consultation Paper provides an overview of the key characteristics of public sector entities identified by the Public Sector Accounting Standards Board’s (PSAB) Conceptual Framework Task Force. It seeks input from stakeholders regarding these characteristics and their accounting and reporting implications for general purpose financial statements.

Staff Contact(s)

Martha Jones Denning, CPA, CA

Principal, Public Sector Accounting Board


The objective of this project is to review and amend, if necessary, the conceptual framework in Sections PS 1000, Financial Statement Concepts, and PS 1100, Financial Statement Objectives. This review could also affect Section PS 1201, Financial Statement Presentation. The issues to be considered include:

  • how to measure financial performance;
  • what financial statements can do and cannot do in measuring financial performance;
  • what aspects of the key concepts underlying financial performance in the framework require review and why;
  • alternative approaches to the key concepts being reviewed; and
  • how the alternative approaches affect the measure of financial performance.

This project applies to all levels of government as well as government organizations that apply the CPA Canada Public Sector Accounting (PSA) Handbook.