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The Value of Statements of Recommended Practice

  • PSAS - PSAB Image

Apr 21, 2015

Group members were asked to share their experience as users of SORPs to support reporting on the performance of public sector entities.

  1. One Group member noted that smaller municipalities continue to focus on improving the overall quality and accuracy of information on their tangible capital assets.
  2. Group members discussed the value of SORPs already issued by PSAB and the varying perspectives were expressed on the future of SORPs.
  3. One Group member noted there is a desire to breathe new life into SORPs.

One Group member noted that many government organizations reporting on non-financial performance are often reluctant to look beyond methodologies provided by the ministries of the governments they are accountable to.

Review the report.

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