At its meeting on December 13-14, 2018, the PSAB approved the Exposure Draft, “2018-2019 Annual Improvements to Public Sector Accounting Standards.” The exposure draft reflects the following main categories of improvements:

1. removal of due process procedures from the CPA Canada Public Sector Accounting Handbook and Statements of Recommended Practices;
2. amendments to correct inconsistencies relating to the introduction of the government-component category;
3. various amendments to Section PS 3060, Government Partnerships; and
4. other amendments to remove inconsistencies and update to areas requiring clarification. The Board will issue the exposure draft in January 2019, with a 90-day comment period.

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