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PSAB

Public Sector Accounting Board

About PSAB

The Public Sector Accounting Board (PSAB) was created to serve the public interest by establishing accounting standards for the public sector. We also provide guidance for financial and other performance information reported by the public sector.

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PSAB Annual Plan 2024-2025

This year, PSAB will continue to develop relevant, high-quality accounting standards for use in the public sector. This includes advancing key projects like Intangible Assets and Employee Benefits, as well as the Government Not-for-Profit-related Tangible Assets and Contributions projects. As we continue to drive our key strategies forward, holding regular Indigenous Advisory Group and Technical Advisory Group meetings are priorities for our Board. Read more about next steps in our Plan, including how we will share the Canadian public sector perspective to support global and forward-looking initiatives.

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Upcoming meetings & events

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June 7, 2024 Public Sector Accounting Discussion Group Meeting – June 7, 2024 1:00 p.m. - 4:00 p.m. ET

Join us as an observer for our upcoming Public Sector Accounting Discussion Group meeting on Friday, June 7, 2024. Register now to attend the meeting remotely (conducted in English with live French translation). Stay tuned for the full agenda.

Meeting & event summaries

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March 26, 2024 PSAB Decision Summary – March 26-27, 2024

PSAB discussed topics including Intangible Assets, post-implementation review assessment, “Employee Benefits, Proposed Section 3251,” International Public Sector Accounting Standards Board’s (IPSASB) “Strategy and Work Program 2024-2028: Consultation,” and more. Read the Decision Summary for full details.

December 7, 2023 PSAB Decision Summary – December 7, 2023

The Board discussed updates related to the Public Sector Accounting Discussion Group, Due Process review, GAAP Designations – Appendices, 2023-2024 Performance Report, 2024-2025 Annual Plan, International Public Sector Accounting Standards Board’s (IPSASB) Strategy and Workplan, an update from IPSASB, and more. Read the Agenda for full details. 

November 28, 2023 Now Available! Meeting Report from PSA DG Meeting – November 16, 2023

At its November meeting, the Group discussed natural resources inventory, scalability of standards, accounting for extreme weather, tangible capital assets, reporting climate-related impacts, and more. Read the Meeting Report for full details. 

News

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April 1, 2024 News
Canada’s Reporting and Assurance Oversight Councils Announce Transition to Single Oversight Council for Streamlined Standard Setting

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.   

February 8, 2024 Document for Comment
Exposure Draft Issued: PSAB Proposes to Assign Higher Authority to Four Application Guidance Appendices

In its narrow-scope amendment Exposure Draft, GAAP Designation of PSA Handbook Appendices, PSAB proposes to assign a higher level of authority under GAAP to four application guidance PSA Handbook Appendices. Tell us if you agree with the amendments and submit your feedback by April 11, 2024.

January 18, 2024 News
Submit an Issue to the PSA Discussion Group

Do you have concerns or questions related to the application of the PSA Handbook? Or would you like to know more about emerging issues impacting public sector reporting? If so, submit an issue to the PSA Discussion Group for consideration! Submissions for our upcoming June 2024 meeting are due April 19, 2024.