In various recent consultations, PSAB indicated it would publicly consult stakeholders on project priorities for its future Technical Agenda. Now that it has approved its 2022-2027 Strategic Plan, the Board seeks your input to determine the project priorities it should take on with its residual resources. This will fulfill the strategies you helped the Board to frame.
This Consultation Paper sets out future projects PSAB may consider. They are in addition to those already highlighted in its Strategic Plan for 2022-2027, some of which are underway or starting this year (see PSAB’s 2022-2023 Annual Plan). Both current and planned activities have PSAB resources allocated to them. Residual resources are expected to become available over the strategic planning period, allowing the Board to start new projects. This Consultation Paper focuses on possible topics for these new projects.
It is essential PSAB hears your views on the proposed projects so that it can best address your needs and priorities. The Board proposes the following project topics in no order:
Major projects
- Intangibles
- Impairment of Assets
- Amendment to the Introduction to Public Sector Accounting Standards
Minor projects
- Update to accounting changes, Section PS 2120
- Inventories
- Update statement of recommended practice (SORP) 1, Financial Statement Discussion and Analysis (FSD&A)