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Financial Instruments – Subsequent Issues - PSAB

Date recorded:

At its meeting on March 22-23, 2018, the PSAB (i) concluded that the PSA Handbook sections on foreign currency and financial instruments were appropriate for public sector entities, including governments and (ii) approved an extension of the effective date for governments of Sections PS 3450, Financial Instruments, and PS 2601, Foreign Currency Translation, to fiscal years beginning on or after April 1, 2021. As well, as part of a future project to be carried out prior to governments being required to adopt these two sections, the PSAB plans to issue an exposure draft to improve the transitional provisions for these standards and potentially address other non-hedge accounting issues raised during the consultation process.

In making these decisions, the Board considered comments received from Canadian stakeholders on the International Public Sector Accounting Standards Board’s Exposure Draft 62, “Financial Instruments,” as well the feedback received from PSAB’s different stakeholder groups.

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

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.