It also includes a discussion of significant matters arising from comments received and issues raised in response to its Exposure Draft.

Review the Basis for Conclusion on the PSAB's website.

The purpose of this second Consultation Paper on International Strategy is to:

• summarize respondents’ feedback to Consultation Paper 1, notably the decision-making criteria and options outlined therein;
• clarify the options;
• describe the updated decision-making criteria that reflects the feedback; and
• apply the updated criteria to each of the options.

With this second Consultation Paper, PSAB anticipates being in a position to decide on its approach to IPSAS by March 2020 at its regular Board Meeting.

Review the press release and Consultation Paper 2 on the PSAB's website.

The 2018-2019 Annual Improvements reflect the following four main categories of improvements:

• Removal of due process procedures from the PSA Handbook and other guidance.
• Amendments to correct inconsistencies relating to the introduction of the government-component category.
• Various amendments to GOVERNMENT PARTNERSHIPS, Section PS 3060.
• Other amendments to other inconsistencies or areas requiring clarification.

Review the press release and exposure draft on the PSAB's website.

The exposure draft proposes changes to the accounting treatment of a bond repurchase, simplification of how a government consolidates the accounts of organizations already reporting on a fair value, and several minor improvements and clarifications to the standard.

Review the press release and Exposure Draft on the PSAB's website.

The Exposure Draft proposes to remove the exclusion in the conceptual framework prohibiting recognition of purchased intangibles in financial statements. The proposal is limited to intangibles purchased through an exchange transaction. Removing the recognition prohibition on purchased intangibles would address a material imbalance in the statements of financial position of many Indigenous governments. These governments may finance the purchase of commercial fishing (and other) licenses with debt but cannot currently recognize the licenses as assets. The proposal may also have implications for other public sector entities that purchase intangibles.

Like the current situation for purchased Crown lands and purchased natural resources, no guidance on how to account for purchased intangibles is proposed in this Exposure Draft. For now, reference to the asset definition, the general recognition criteria and the GAAP hierarchy is expected. Accounting for these items may be the subject of future PSAB projects.

Read the press release and Exposure Draft on the AcSB's website.

This proposed guidance will have a significant impact in the public sector.

Review the press release and Exposure Draft on the PSAB's website.

The purpose of the consultation paper is to:

• inform GNFP stakeholders of the Canadian and international not-for-profit financial reporting landscape;
• communicate results of the 2017-2018 GNFP consultations; and
• request stakeholder input on key issues that will guide PSAB in determining its next steps for the GNFP Strategy.

Review the following information of the PSAB's website:

• Press release
• Resource page
• Government Not-for-Profit Consultation Paper
• In Brief: Matters for Feedback
• In Brief: Results of the 2017-2018 Government Not-for-Profit Consultations

Reviewing PSAB’s approach to International Public Sector Accounting Standards podcasts:

• Episode 1
• Episode 2
• Episode 3

Reviewing PSAB’s approach to International Public Sector Accounting Standards podcast scripts:

• Episode 1
• Episode 2
• Episode 3

Learn how the specific scope, recognition, measurement, presentation, and disclosure requirements could have a significant impact in the public sector.

Review the In Brief on the PSAB's website.

The exposure draft proposes clarification of existing guidance for four public sector instruments:

• Monetary gold;
• Currency in circulation;
• IMF quota subscriptions; and
• IMF special drawing rights.

The IPSASB has come to the conclusion that monetary gold has similar characteristics to a financial asset and proposes to clarify that it is appropriate to account for monetary gold by applying the financial asset principles in certain circumstances.

As regards currency in circulation, IMF quota subscriptions and special drawing rights, the IPSASB has come to the conclusion that these all meet the definition of a financial instrument and proposes adding implementation guidance and an illustrative example to support stakeholders accounting for these instruments.

Review the exposure draft Public Sector Financial Instruments: Amendments to IPSAS 41 "Financial Instruments", a short introductory webinar and an At a Glance introduction on the IPSASB's website.

The alignment dashbord was updated for the June 2019 IPSASB meeting. It also offers a table showing for which IFRSs there is no IPSAS equivalent and whether the IPSASB intends to fill that gap.

Please click to access the updated dashboard on the IPSASB website.