At its meeting on June 22-23, 2017, the PSAB continued to discuss and review the proposed conceptual framework, chapter by chapter. During this meeting the Board considered what the elements of financial statements, such as asset, liability, revenue and expense, should be and how they should be defined. The Board provided its feedback to the Conceptual Framework Task Force.

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At its meeting on June 22-23, 2017, the PSAB noted that the Employment Benefits Task Force has been developing an invitation to comment (ITC) on discount rates. The Board received a presentation on the issues related to developing discount rate guidance for estimating accrued benefit obligation. The Board provided its feedback to the Task Force in the approach to the ITC, which is expected to be approved in September and issued in the fall. The Board also considered options for accelerating the project and the related risks and reprioritized the work related to the project and provided direction to streamline the process.

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At its meeting on June 22-23, 2017, the PSAB noted that, at its December 2016 meeting, it had asked staff to consult with entities that have already adopted Section PS 3450, Financial Instruments. The intention was to understand their implementation experience in order to inform the Board’s future decisions on the standard. At this meeting, the Board received an update on the consultations with these entities.

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At its meeting on June 22-23, 2017, the PSAB approved a Statement of Principles, “Public Private Partnerships.” The document is expected to be issued for comment in July 2017. 

Review the executive summary on the PSAB's Web site.