In response to feedback received from the Canadian Council of Comptrollers, the Public Sector Accounting Board (PSAB) will develop additional narrow scope amendments to address specific concerns raised.
The objective of this project is to review the following topics:
- Presentation of the fair value of derivatives;
- Presentation of certain foreign exchange gains/losses and changes in the fair value of associated derivatives; and
- Accounting for rate-setting transactions.
In connection with this project, PSAB also previously approved the following amendments:
- Financial Instruments - Narrow Scope Amendments; and
- Financial Instruments - Federal Government Narrow Scope Amendments.