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The AcSB’s Annual Plan describes the Board’s key activities and project milestones set for 2025-2026. Read about our progress on objectives from our 2022-2027 Strategic Plan, including our work to enhance the relevance of financial and non-financial reporting information.

On March 26, 2025, the Canadian Sustainability Standards Board met to discuss updates on the 2025-2028 Strategic Plan consultation, the Indigenous Peoples Priority Committee, the Climate-first Guide, and the Board’s response to the IFRS Foundation’s Exposure Draft. For full details, read the decision summary.

PSAB approved its SORP-1 Narrow Scope Amendment Exposure Draft, Annual Report, Annual Plan, and project proposal for the GNFP Contributions and Financial Statement Presentation Project. The Board also received updates from the Public Sector Discussion Group and the Indigenous Advisory Group. Read our Decision Summary for full details.

The Accounting Standards Board discussed Relief from Recognition of Intangible Assets and Amortization of Goodwill, Detailed Review of ASPE,  Contributions,  Financial Statement Concepts, and more. Read the decision summary for full details.

The AASB approved several key projects: the  revised Canadian Auditing Standard 570, Going Concern; a re-exposure draft for Canadian amendments in CSSA 5000, General Requirements for Sustainability Assurance Engagements, on Indigenous matters; and its 2026-2029 Strategic Plan. The Board also discussed Audit Evidence & Risk Response and Fraud. Read the Decision Summary for full details. 

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by March 14, 2025, for consideration as a discussion topic at our May 14, 2025, meeting.

PSAB has issued the Exposure Draft, “Intangible Assets, Proposed Section PS 3155,” which provides foundational guidance on accounting for intangible assets. We developed the proposed new standard using PSAB’s International Strategy and guidance provided in the IPSAS 31, Intangible Assets. Help shape the future of public sector accounting by sharing your feedback on how our proposals might affect your organization. Your input is crucial to the success of our consultation. Respond by May 30, 2025.  

Learn more about PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155,” which is now out for comment. This resource covers key proposals and proposed modifications to IPSAS 31, Intangible Assets. It outlines how we aim to leverage international guidance to develop a standard that will work for the unique needs of Canadian public sector organizations. Read our In Brief and stay up to date on this important project!

The Medium and Small Practitioners Advisory Committee held a meeting on January 29, 2025, and discussed Financial Statement Concepts, the Detailed Review of ASPE, and more. Read the meeting notes for full details!

PSAB discussed responses to IPSASB’s Exposure Draft 92, “Tangible Natural Resources,” and Sustainability Reporting Standard Exposure Draft 1, “Climate-related Disclosures.” Read the Decision Summary for full details.