News Listings

Read our In Brief for more on the key aspects of PSAB’s new Reporting Model in Section PS 1202, Financial Statement Presentation. Learn about changes from Section PS 1201, Financial Statement Presentation, and find out how these amendments will impact users. The new Reporting Model takes effect for fiscal years beginning on or after April 1, 2026. Check out our In Brief and related resources to ensure you’re ready for the transition!

Engage with PSAB and IPSASB staff in a unique opportunity to help shape the future of public sector accounting and reporting in Canada.

In our first session, we will dive into IPSASB’s recent Tangible Natural Resources Exposure Draft, giving you the chance provide your input. Following this, we will explore vital discussions on Climate-related Disclosures. Your insights are crucial to ensuring Canada's distinct perspectives are represented at the international level. Our sessions will be translated simultaneously in French. Register now for either November 27 or December 2, 2024!

Join a network of experts and stay ahead of the curve on an important topic in public sector accounting! Apply now for our Cloud Computing Task Force and help develop guidance for cloud computing arrangements in the public sector. Applications are due December 18, 2024.

PSAB has issued the Re-exposure Draft, “Employee Benefits, Proposed Section PS 3251.” This Re-exposure Draft focuses on amendments to previously exposed discount rate principles for defined benefit plans. Read our In Brief to learn more about the proposals and how you can provide your input.

PSAB discussed topics such as the Government Not-for-Profit Capital Assets project, Intangible Assets project, International Public Sector Accounting Standards Board update, generally accepted accounting principle designations in the Public Sector Accounting Handbook Appendices, and more. Read the Decision Summary for full details.

The International Public Sector Accounting Standards Board (IPSASB) released the Exposure Draft 90, “Amendments to IPSAS as a Result of the Application of IPSAS 46, Measurement.” We encourage you to respond to this Exposure Draft so Canadian perspectives are considered. Do your part to ensure future international standards serve the Canadian public interest. Submit your comments to IPSASB by November 29, 2024.

PSAB discussed topics such as the Post-implementation Review Assessment, Employee Benefits, the Public Sector Accounting Discussion’s Group’s 5-year review, Intangible Assets, and more. Read the Decision Summary for full details.

The Group discussed Asset Retirement Obligations: Exploration of Potential Application Issues, Application of GAAP Hierarchy – Operating Leases, Lessee Accounting Treatment, and more. Read the meeting report for full details.

PSAB encourages interested and affected parties to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 88, Arrangements Conveying Rights over Assets (Amendments to IPSAS 47 and IPSAS 48). Respond directly to IPSASB by May 31, 2024, to ensure Canadian-specific issues and perspectives are considered.

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.