Public Sector Accounting Standards (PSAS)

Stay informed of new standards and recent changes to Public Sector Accounting Standards (PSAS) together with Exposure drafts. Please also see the webinars, training courses and resources from the relevant standard-setting boards under the Resources tab for each item.

New standard - Public private partnerships

The PSAB issued a new standard (PS 3160) that addresses the recognition, measurement, presentation and disclosure of infrastructure procured by public sector entities through certain types of public private partnership arrangements. This would include private partnership arrangements where the private sector partner is obligated to:

  • design, build, acquire or better new or existing infrastructure
  • finance the transaction past the point where the infrastructure is ready for use
  • operate and/or maintain the infrastructure

Effective for fiscal years beginning on or after April 1, 2023, with early application permitted.

Exposure draft – Employee Benefits, Proposed Section PS 3251

The PSAB issued an exposure draft that outlines principles for the first of several phases of the revised employee benefits standards.

Proposed Section PS 3251 would replace existing sections PS 3250, Retirement Benefits, and PS 3255, Post-employment Benefits, Compensated Absences and Termination Benefits. Key changes include:

  • the rate used to discount a post-employment benefit plan would depend on the plan’s funding status
  • a deferral and amortization approach for actuarial gains and losses would no longer be used

The comment period is closed.

Exposure draft – 2022-2023 Annual Improvements to Public Sector Accounting Standards

The PSAB issued an exposure draft proposing to amend the CPA Canada Public Sector Handbook as set out in the exposure draft. The annual improvements process clarifies standards or other guidance, or corrects minor unintended consequences, conflicts of oversights.

The comment period is closed.

Consultation paper – PSAB Future Work Plan Consultation Paper

The PSAB issued a consultation paper to gather input on the future projects it should consider, when its residual resources become available.

The comment period is closed.

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