Annual Improvements 2019-2020 – PSAB

Date recorded:

At its meeting on December 12-13, 2019, the PSAB approved the Exposure Draft, “2019-2020 Annual Improvements to Public Sector Accounting Standards.” The Exposure Draft reflects proposed amendments to:

  1. clarify transitional provisions for consequential amendments;
  2. update disclosure requirements in individual standards relating to contractual rights; and
  3. replace the term “contingency” with “contingent assets and contingent liabilities”.

The Board will issue the Exposure Draft in January 2020, with a 60-day comment period.

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

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