News Listings

As Canada moves through the third wave of COVID-19 with the hope that comes with vaccinations and economic re-opening, we in standard setting have also been progressing in new areas and initiatives. From sustainability standards to strategic planning, read this statement from our Board Chairs about what we’ve been up to and what’s to come this year.

At its recent meetings, the Board discussed such topics as Rate Regulated Accounting, International Strategy, the Consultation Paper of IFR4NPO, and Financial Instruments. Read the Decision Summary for full details.

The Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) have initiated a review of Canadian standard setting. The Independent Review Committee on Standard Setting in Canada was formed to review of the governance and structure for establishing accounting, auditing, and assurance standards, as well what might be needed for the future – including sustainability standards. 

The response deadlines of five key documents for comment related to the PSAB’s proposed new Conceptual Framework, Reporting Model, and Government Not-for-Profit Strategy have been extended to June 30, 2021. We encourage stakeholders to use this additional time to share feedback and help shape the future of public sector accounting standards for years to come!

Need help evaluating a government business enterprise's financial self-sufficiency or viability during the COVID-19 pandemic? PSAB’s new how-to guidance offers insights into how you can do so.

Learn more about key proposals in PSAB’s Exposure Draft “Financial Statement Presentation, Proposed Section PS 1202.” Watch the recorded English or French webinar. Comments on this Consultation Paper are due June 30, 2021.

Learn more about key proposals in PSAB’s Exposure Draft “The Conceptual Framework for Financial Reporting in the Public Sector.” Watch the recorded English or French webinar. Comments on this Consultation Paper are due June 30, 2021.

At its recent meeting, the Board discussed the 2022+ Strategic Plan, the PSA Discussion Group, and other matters. Read the Decision Summary for full details.

At its recent meeting, the Board discussed the Employee Benefits project and the approval of the related exposure draft. Read the Decision Summary for full details.

At its recent meeting, the Board discussed the International Strategy project and updates to the GAAP hierarchy. Read the Decision Summary for full details.