News Listings

The formation of the new International Sustainability Standards Board (ISSB) was announced on Finance Day at COP26 in Glasgow, along with two other significant developments.

The IFRS Foundation also announced its commitment to consolidating the Climate Disclosure Standards Board and the Value Reporting Foundation with the new ISSB and will publish prototype climate and general disclosure requirements developed by the Technical Readiness Working Group (TRWG) – a group formed by the Trustees to undertake preparatory work for the ISSB.

The ISSB’s standards will enable companies to provide comprehensive sustainability information for the global financial markets. It will also have a global and multi-location presence with offices in Frankfurt and Montreal, responsible for key functions supporting the new Board, and enable deeper co-operation with regional stakeholders.

The Board discussed the Public Sector Accounting Discussion Group, the International Strategy – IPSASB Documents for Comment, and the Draft CPA Competency Map Response. Read the Decision Summary for full details.

Learn more about key proposals in PSAB’s Exposure Draft “Employee Benefits, Proposed Section PS 3251,” by watching our on-demand webinar in English or French. Comments for the Exposure Draft are due November 25, 2021.

Share your Canadian perspective by submitting papers to the Financial Accountability & Management in Governments, Public Services and Charities journal. Research of interest will encourage discussion about “publicness,” “localized-led development,” and the implication of accounting choices and practices within the economy and society. Submit papers by August 31, 2022.

Help PSAB inform the development of IPSAS by submitting papers to the IPSASB Research Forum. Topics of interest include implementation differential reporting and discounting, adoption of intangible assets, and reporting related to sustainability and digitalization. To apply for funding, submit abstracts by September 30, 2021.

The IPSASB released its Mid-Period Work Program Consultation document. PSAB encourages stakeholders to send comments directly to the IPSASB by November 30, 2021.

If you would like us to consider your feedback during the development of our response, please reply to our Board by November 16, 2021.

The IPSASB released Exposure Draft (ED) 80, Improvements to IPSAS, 2021. PSAB encourages stakeholders to send comments directly to the IPSASB by September 30, 2021.

The IPSASB released four new Exposure Drafts on how to measure assets and liabilities in the public sector. PSAB encourages stakeholders to send comments directly to the IPSASB by October 25, 2021. 

If you would like us to consider your feedback during the development of our response, please reply to our Board by October 11, 2021.

Private and public institutions across the country have come together to offer Canada as the global headquarters for the new International Sustainability Standards Board (ISSB). The offer was facilitated by CPA Canada and formally submitted by the Government of Canada to the IFRS Foundation this week, backed by organizations such as pension funds, financial institutions, securities regulators, a leading First Nations organization, accounting firms, insurance companies, and other large Canadian companies, along with the support of the country’s six largest municipalities and a broad cross-sector of Canada’s leading business, academic, and environmental stakeholder organizations. 

PSAB issued Exposure Draft – “Employee Benefits, Proposed Section 3251,” which outlines principles for the first of several phases of the revised employee benefits standard. In this first phase, the Board focused on discount rate guidance and deferral provisions. 

We want your feedback to our Exposure Draft – respond by November 25, 2021!