Review of Canada’s public sector accounting conceptual framework and reporting model

Proposed changes to the public sector accounting conceptual framework and reporting model are intended to be more inclusive for all entities in the public sector.

The Public Sector Accounting Board (PSAB)’s review and revision of its conceptual framework and reporting model are moving forward at top speed this year. The project will shape public sector financial reporting in Canada for years to come.

Toward the end of May, PSAB will be seeking public feedback on the following two documents, which propose changes to the current conceptual framework and reporting model:

  • Statement of concepts: A revised conceptual framework for the Canadian public sector
  • Statement of principles: A revised reporting model for the Canadian public sector

The proposals in these documents include a generally accepted set of core requirements and a reporting model that is more inclusive of all public sector entities.

PSAB wants to hear feedback from Canada’s public sector to continue moving this project in the right direction. Feedback on the two documents for comment will be due in the fall. Visit the “Concepts underlying financial performance” page for more information and updates.

Stay tuned for multiple opportunities to learn about, and provide feedback on, the proposals in these documents; they’ll include in-person events and digital communication options.

CONTACT

Antonella Risi, CPA, CA
Principal, Public Sector Accounting Board

Martha Jones Denning, CPA, CA
Principal, Public Sector Accounting Board