Public Sector Accounting Standards

Effective Dates – Public Sector Accounting Standards

This summary is for information purposes only.

About Proposed Effective Dates

Draft pronouncements are subject to change. As part of the consultation process, the public is encouraged to review and provide feedback on proposed effective dates and other aspects of proposed new or revised standards.

About Final Effectives Dates

Final pronouncements are standards that are board approved. This section may not include consequential amendments resulting from the issuance of new standards or minor updates to existing standards. For comprehensive details, please refer to the CPA Canada Public Sector Accounting Handbook on Knotia.ca.

Pronouncement

Application

April 1, 2026

The Conceptual Framework for Financial Reporting in the Public Sector

Fiscal years beginning on or after April 1, 2026. Earlier adoption is permitted.

Financial Statement Presentation, Section PS 1202

Fiscal years beginning on or after April 1, 2026. Earlier adoption is permitted only if The Conceptual Framework for Financial Reporting in the Public Sector is also adopted at the same time.

April 1, 2023:

Revenue, Section PS 3400

Fiscal years beginning on or after April 1, 2023. Earlier adoption is permitted.

Purchased Intangibles, PSG-8

Fiscal years beginning on or after April 1, 2023. Earlier adoption is encouraged.

Public private partnerships, Section PS 3160

Fiscal years beginning on or after April 1, 2023. Earlier adoption is permitted.

April 1, 2022:

Financial Statement Presentation,
Section PS 1201

When Sections PS 2601 and PS 3450 are adopted.

Foreign Currency Translation,
Section PS 2601

Fiscal years beginning on or after April 1, 2022, except for government organizations that applied the CPA Canada Handbook – Accounting prior to adopting the CPA Canada Public Sector Accounting Handbook. Earlier adoption is permitted when adopting Sections PS 1201 and PS 3450.

Portfolio Investments, Section PS 3041

When Sections PS 1201, PS 2601 and PS 3450 are adopted.

Financial Instruments, Section PS 3450

Asset Retirement Obligations, Section PS 3280

Fiscal years beginning on or after April 1, 2022. Earlier adoption is permitted.