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PSAB Standard-setting Due Process Manual

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Jan 29, 2019

On January 29, 2019, the Public Sector Accounting Board (PSAB) released their revised due process manual, which provides a clear explanation of their standard-setting due process activities.

PSAB's Standard-Setting Due Process Manual outlines their rigorous set of procedures to develop and adopt standards.

Their due process is based on the following principles:

  • Transparency: conducting standard-setting process in a transparent manner.
  • Consultation: considering the perspectives of those affected by Canadian public sector financial reporting standards and other guidance.
  • Accountability: analyzing the potential effects of their proposals on affected parties and explaining the rationale for the Board’s decisions when developing or changing a standard and other guidance. They are also directly accountable to the Accounting Standards Oversight Council.

Review the Due Process Manual on the PSAB's website.

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