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Review of International Strategy – AcSOC

Date recorded:

At the AcSOC meeting on October 26-27, 2017, the PSAB Chair advised that the PSAB is reviewing its approach to International Public Sector Accounting Standards (IPSAS). In this regard, in response to a question, the Chair said that a number of G20 countries already follow IPSASs to varying degrees, with some notable exceptions such as Germany. The European community is progressing quickly in assessing IPSASs as the basis for public sector accounting. Given its multiplicity of sovereign governments, it might emerge as a relevant model for Canada but it is too early to tell. The International Public Sector Accounting Standards Board is conducting an initial worldwide survey of countries’ relative positioning regarding IPSASs adoption. The results will be available in 2018.

Review the meeting summary on the AcSOC's Web site.

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