Our Exposure Draft, “ 2024-2025 Annual Improvements to Public Sector Accounting Standards,” is intended to correct errors or clarify existing pronouncements in the CPA Canada Public Sector Accounting (PSA) Handbook. These annual improvements are not expected to propose any new principles or change any existing principles. Most important, the proposed annual improvements are not intended to change practice.
This Exposure Draft reflects the following main categories of improvements:
- terminology updates;
- amendments to enhance alignment of various sections of the PSA Handbook with PSAB’s Conceptual Framework and Reporting Model; and
- other minor editorial updates to the PSA Handbook.
The final amendments will be issued in the Fall 2025 PSA Handbook update.