PSAB In Brief — Statement of Concepts, “A Revised Conceptual Framework for the Canadian Public Sector”

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Sep 12, 2018

On September 12, 2018, the Public Sector Accounting Board (PSAB) released an overview of the key proposals in the Statement of Concepts, “A Revised Conceptual Framework for the Canadian Public Sector”. It also presents background information about PSAB’s Concepts Underlying Financial Performance project.

PSAB is making the following changes:

  1. Issuing a revised conceptual framework to replace two Sections in the CPA Canada Public Sector Accounting (PSA) Handbook:
    1. PS 1000, Financial Statement Concepts
    2. PS 1100, Financial Statement Objectives
  2. Issuing a revised financial statement presentation standard that would replace Section PS 1201, Financial Statement Presentation.

Proposals for a revised financial statement presentation standard are included in the Statement of Principles, “A Revised Reporting Model for the Canadian Public Sector.”

Review the publication on the PSAB's website.

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