PSAB is embarking on implementing its GNFP Strategy (approved in March 2022) to incorporate the PS 4200 series into Public Sector Accounting Standards (PSAS) with potential customizations.
This project encompasses a review of the PS 4200 series standards related to Section PS 4230, Capital Assets held by Not-for-Profit Organizations, and Section PS 4240, Collections held by Not-for-Profit Organizations, to determine what amendments should be proposed to Section PS 3150, Tangible Capital Assets.
As a result of proposing amendments to Section PS 3150, Sections PS 4230 and PS 4240 will be withdrawn.