Exposure Draft, Financial Instruments – Narrow Scope Amendments

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Jan 31, 2019

On January 31, 2019, the Public Sector Accounting Board (PSAB) released an Exposure Draft that proposes, subject to comments received following exposure, to amend Section PS 3450, "Financial Instruments". The Basis for Conclusions, which accompanies the Exposure Draft, addresses alternative views and the Board position, with its reasons. Comments are requested by May 1, 2019.

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.

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