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Government Not-for-Profit Strategy – PSA Discussion Group

Date recorded:

In January 2021, PSAB issued Consultation Paper II, “Government Not-for-Profit Strategy.” The Consultation Paper proposes a strategy for the Board’s future work with GNFPOs and requests input on the strategy and its implementation. The Board asked the Group to discuss select issues in a public forum, namely:

  1. Do you agree that the proposed GNFP Strategy of PSAS incorporating the PS 4200 series with potential customizations best meets the Canadian public interest
  2. Recognizing that the PS 4200 series needs to be reviewed, how should that review be undertaken? For example, is there a standard or topic that should be addressed first given the need for additional guidance on that topic, such as accounting for endowment revenue and assets? Or should the less-complex topics be addressed first to begin the process?
  3. What are the advantages and disadvantages of providing customizations within PSAS for GNFPOs and what are the implications for providing accounting customizations versus disclosure or presentation customizations only?

Given the short time for discussion, the Group was asked to consider concurrently all three questions in their comments. For further details, refer to the minutes of the meeting.

Review the detailed report on the PSAB's website.

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