Public Sector Accounting Standards

Consultation Paper 2, Reviewing PSAB’s Approach to International Public Sector Accounting Standards

Summary

In developing its 2017-2021 Strategic Plan, PSAB determined it was appropriate to review its current approach toward its international strategy and the IPSAS.

The purpose of this second Consultation Paper on International Strategy is to:

  • summarize respondents’ feedback to Consultation Paper 1, notably the decision-making criteria and options outlined therein;
  • clarify the options;
  • describe the updated decision-making criteria that reflects the feedback; and
  • apply the updated criteria to each of the options.

With this second Consultation Paper, PSAB anticipates being in a position to decide on its approach to IPSAS by March 2020 at its regular Board Meeting.

Staff Contact(s)

Michael Puskaric, MBA, CPA, CMA

Director, Public Sector Accounting Board

How to reply

Respond to Consultation Paper 2, Reviewing PSAB’s Approach to International Public Sector Accounting Standards by September 30, 2019 submitting a comment letter (in a Word file)

Background

There is an increasing trend toward global harmonization of accounting standards in both the private and public sectors.

As part of the 2017-2021 Strategic Plan, we committed to:

  1. conducting research on the differences between PSAS and IPSAS;
  2. learning about the experiences of other jurisdictions that choose to follow, partially follow or not to follow IPSAS;
  3. publishing a consultation paper to get the opinion of stakeholders; and
  4. developing options that would inform the approach to the Board’s future international strategy.