PSAB

Public Sector Accounting Board

About PSAB

The Public Sector Accounting Board (PSAB) was created to serve the public interest by establishing accounting standards for the public sector. We also provide guidance for financial and other performance information reported by the public sector.

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Virtual Roundtable Discussions – IPSASB Exposure Drafts – Tangible Natural Resources and Climate-related Disclosures

Engage with PSAB and IPSASB staff in a unique opportunity to help shape the future of public sector accounting and reporting in Canada. In our first session, we will dive into IPSASB’s recent Tangible Natural Resources Exposure Draft, giving you the chance provide your input. Following this, we will explore vital discussions on Climate-related Disclosures. Your insights are crucial to ensuring Canada's distinct perspectives are represented at the international level. Our sessions will be translated simultaneously in French. Register now for either November 27 or December 2, 2024!

PSAB Re-exposure Draft, “Employee Benefits, Proposed Section PS 3251”

PSAB has issued the Re-exposure Draft, “Employee Benefits, Proposed Section 3251.” This limited re-exposure focuses on amendments to discount rate principles of the Exposure Draft issued in July 2021, including assessing funding status and sensitivity analysis disclosure requirements. Don’t miss your chance to review these amendments and send us your feedback by January 20, 2025.

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Meeting & event summaries

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September 25-26, 2024 PSAB Decision Summary – September 25-26, 2024

PSAB discussed topics such as the Government Not-for-Profit Capital Assets project, Intangible Assets project, International Public Sector Accounting Standards Board update, generally accepted accounting principle designations in the Public Sector Accounting Handbook Appendices, and more. Read the Decision Summary for full details.

June 26-27, 2024 PSAB Decision Summary – June 26-27, 2024

PSAB discussed topics such as the Post-implementation Review Assessment, Employee Benefits, the Public Sector Accounting Discussion’s Group’s 5-year review, Intangible Assets, and more. Read the Decision Summary for full details.

June 7, 2024 Now Available! Public Sector Accounting Discussion Group Meeting Report – June 7, 2024

The Group discussed Asset Retirement Obligations: Exploration of Potential Application Issues, Application of GAAP Hierarchy – Operating Leases, Lessee Accounting Treatment, and more. Read the meeting report for full details.

News

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November 21, 2024 Resource, In Brief

In Brief – A plain and simple overview of the Reporting Model and the Financial Statement Presentation standard: then and now

Read our In Brief for more on the key aspects of PSAB’s new Reporting Model in Section PS 1202, Financial Statement Presentation. Learn about changes from Section PS 1201, Financial Statement Presentation, and find out how these amendments will impact users. The new Reporting Model takes effect for fiscal years beginning on or after April 1, 2026. Check out our In Brief and related resources to ensure you’re ready for the transition!

November 13, 2024 Webinar, Resource

Webinar – PSAB’s Re-exposure Draft, “Employee Benefits, Proposed Section PS 3251”

Learn about key proposals in PSAB’s recently issued Re-exposure Draft “Employee Benefits, Proposed Section PS 3251”! Join us for a live webinar on November 13, 2024, and find out how we’re responding to your feedback on discount rate amendments. This webinar will be conducted in English with simultaneous translation to French. Register now and stay informed about how upcoming changes could impact you.

October 22, 2024 News, Volunteer Opportunity

Volunteer Opportunity – PSAB’s Cloud Computing Task Force

Join a network of experts and stay ahead of the curve on an important topic in public sector accounting! Apply now for our Cloud Computing Task Force and help develop guidance for cloud computing arrangements in the public sector. Applications are due December 18, 2024.