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Public Sector Accounting Standards

2022–2023 Annual Improvements

Summary

The Public Sector Accounting Board (PSAB) has adopted an Annual Improvements process to make minor improvements to the CPA Canada Public Sector Accounting (PSA) Handbook or Statements of Recommended Practices (other guidance).

The Annual Improvements process:

  • clarifies standards or other guidance; or
  • corrects relatively minor unintended consequences, conflicts or oversights. 

Major or narrow-scope amendments to the standards or other guidance are not included in the Annual Improvements process.

Staff Contact(s)

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

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

Project Status

  • Information gathering

    PSAB accepted submissions of issues for its Annual Improvements projects

  • Approving project

    PSAB discussed the issues to be included in the 2022-2023 Annual Improvements Exposure Draft

  • Engaging Communities

    PSAB issued its Annual Improvements Exposure Draft in August 2022

    Exposure Draft
  • Deliberating feedback

    PSAB approved the final Handbook amendments at its December 2022 meeting

  • Final pronouncement

    The final Handbook amendments will be published in two phases

    In the first phase, the amendments to allow early adoption of Section PS 3160, Public Private Partnerships, and clarify the application of PSG-8, Purchased Intangibles, to inter-entity transactions, will be issued with an effective date of April 1, 2023

    As part of the second phase, the remainder of the amendments will be published later in 2023, with an effective date of the first day of the month published. This approach will allow for the coordination of the remaining annual improvements with the expected publication of consequential amendments related to the new reporting model, Section PS 1202, Financial Statement Presentation, in fall 2023

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.