This summary of decisions of the Public Sector Accounting Board (PSAB) has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on projects, which might change after further deliberations by PSAB. Decisions to publish exposure draft and Handbook material are final only after a formal ballot process.
Standards for Public Sector Entities
Public Private Partnerships
PSAB approved the final Section PS 3160, Public Private Partnerships. This new Section will be effective for fiscal years beginning on or after April 1, 2023. Earlier adoption is encouraged.
This new Section and the consequential amendments will be reflected in the Public Sector Accounting (PSA) Handbook in spring 2021.
Financial Instruments
PSAB approved the following narrow-scope amendments:
- Financial Instruments, Presentation Narrow-scope Amendments; and
- Financial Instruments, Foreign Exchange Narrow-scope Amendments.
These amendments will be effective for fiscal years beginning on or after April 1, 2022.
These amendments will be reflected in the PSA Handbook in spring 2021.