Skip to main content

Public Sector Accounting Standards

PSAB Exposure Draft – 2022-2023 Annual Improvements to Public Sector Accounting Standards


The Public Sector Accounting Board (PSAB) proposes, subject to comments received following exposure, to amend the CPA Canada Public Sector Accounting (PSA) Handbook as set out in this Exposure Draft.

The 2022-2023 Annual Improvements reflect proposed amendments to:

  • replace the term “summary financial statements” with “financial statements” or “financial reports”;
  • clarify the Introduction to Public Sector Guidelines and the removal of outdated guidance related to local governments;
  • update the transitional provisions in PUBLIC PRIVATE PARTNERSHIPS, Section PS 3160, to explicitly state that early adoption is permitted;
  • change some references to the term “power” to “ability” or “authority”, as appropriate, given the use of the term “power” to reference sovereign or equivalent powers in the Conceptual Framework Chapter 5;
  • update to correct for grammatical errors in the decision tree in LOANS RECEIVABLE, Section PS 3050;
  • update PUBLIC SECTOR GUIDELINE (PSG) 8, Purchased Intangibles, to clarify its application to inter-entity transactions;
  • update the designation and numbering of existing appendices in the PSA Handbook to align with categories of guidance established by the International Public Sector Accounting Standards (IPSAS). This is to ensure consistent classification of similar categories of guidance should PSAB adapt IPSAS principles set out in appendices in developing Canadian standards in the future; and
  • update the terminology in many of the standards otherwise addressed in this Exposure Draft from “government” to “public sector entity” or “entity”, as appropriate.

Staff Contact(s)

Michael Puskaric, MBA, CPA, CMA Director, Public Sector Accounting Board

Thank you for responding to the PSAB Exposure Draft, 2022-2023 Annual Improvements to Public Sector Accounting Standards.

Read what stakeholders had to say and stay up to date with this project.