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Public Sector Accounting Standards

Government Not-for-Profit Strategy Consultation Paper II

Summary

In PSAB’s 2017-2022 Strategic Plan, the Board signaled intent to understand the needs and concerns of government not-for-profit Organizations (GNFPOs) and consider if some standards should be applied differently by them.

The purpose of this Consultation Paper is to:

  • summarize the feedback to Consultation Paper I;
  • describe the options considered for a GNFP Strategy;
  • describe the decision-making criteria used to evaluate the options; and
  • propose a GNFP Strategy.

Staff Contact(s)

Michael Puskaric, MBA, CPA, CMA Director, Public Sector Accounting Board

Phone number  +1 416 204 3451
Email address  [email protected]

Background

In its 2017-2022 strategic plan, PSAB wanted to implement a public sector NFPO strategy that meets the public interest. When GNFPOs adopted Public Sector Accounting Standards (PSAS) in 2012, specific not-for-profit accounting standards were incorporated into the CPA Canada Public Sector Accounting Handbook (the PS 4200 series). Some organizations have used these specific accounting standards while others have not. This has created reporting differences between comparable GNFPOs.

As a result, PSAB wanted to assess the specific needs of public sector NFPOs and determine if some PSAS should be applied differently to this group.