News Listings

The Board discussed the update from the Public Sector Accounting Discussion Group meeting, 2022-2023 Annual Improvements project, Financial Statement Presentation Standard (“Reporting Model”), the Government Not-for-Profit Strategy, and other matters. Read the Decision Summary for full details.

PSAB has released its response to IPSASB’s Natural Resources Consultation Paper after conducting extensive outreach with Canadians. Feedback was provided to IPSASB on several areas of their Consultation Paper, including the description of human intervention, the need for increased engagement with Indigenous Peoples, and the measurement of natural resources.

PSAB’s new Conceptual Framework is now available in the PSA Handbook. This is a significant milestone for financial reporting in the Canadian public sector. The accompanying Basis for Conclusions document explaining PSAB’s reasoning for key decisions is also now available.

PSAB encourages stakeholders to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 83, Reporting Sustainability Program Information. Respond directly to IPSASB by January 16, 2023, to ensure Canadian-specific issues and perspectives related to public sector sustainability reporting are considered.

Watch the recorded English or French webinar to learn about PSAB’s Government Not-for-Profit (GNFP) Strategy Decision and Implementation Plan.

The Board discussed the Independent Review of Standard Setting, International Strategy, Financial Statement Presentation Standard, Employee Benefits, and other matters. Read the Decision Summary for full details.

The Board discussed the Government Not-for-Profit Strategy, Conceptual Framework & Reporting Model, Employee Benefits, International Strategy, and other matters. Read the Decision Summary for full details.

At its May 2022 meeting, the Group discussed International Public Sector Accounting Standards Board’s (IPSASB) Consultation Paper on Sustainability Reporting, Climate-related Issues including considerations under Public Sector GAAP and SORPs, and General Application Standards. Read the Meeting Report for full details.

Sustainability standard setting is at a pivotal juncture, with the first draft standards issued for public comment by the ISSB. Watch our 15-minute, on-demand webinar for an overview of the ISSB and their inaugural Exposure Drafts, the different ways you can participate in this consultation period to inform Canada’s response, and how to stay up to date on the latest developments on sustainability standards.

As the pace of progress in sustainability disclosures continues to accelerate, the Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) mutually approved the formation of the Canadian Sustainability Standards Board (CSSB). Read the media release to learn more about what this means for Canada.