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Financial Instruments – Narrow-scope Amendments – PSAB

Date recorded:

At its meeting on July 3, 2020, the PSAB approved the financial instruments, federal government narrow-scope amendments for the CPA Canada Public Sector Accounting (PSA) Handbook. These amendments permit the federal government to present exchange gains and losses related to its foreign reserves, including the associated derivatives, directly in the statement of operations. These amendments will be reflected in the PSA Handbook in the fall of 2020. The PSAB also approved the following two Exposure Drafts, which will be published in the summer of 2020, with a 90-day comment period: (i) “Financial Instruments: Presentation Narrow-scope Amendments”; and (ii) “Financial Instruments: Foreign Exchange Narrow-scope Amendments.” These amendments were approved for development at the April 2020 PSAB meeting.

Review the Executive Summary on the PSAB's Web site.

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