In developing its 2017-2020 Strategic Plan, in light of the current environment and current expectations about the future of standard setting, PSAB agreed that the time was right to review its approach to International Public Sector Accounting Standards (IPSAS). By March 2020, the Board has committed to:
- researching the differences between Canadian Public Sector Accounting (PSA) standards and IPSAS;
- learning about experiences of other jurisdictions that have elected to follow, partially follow or not to follow IPSAS;
- issuing a public consultation paper to get stakeholders’ opinions; and
developing options related to IPSAS that would lead to the Board’s future international strategy.