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In Brief – A plain and simple overview of PSAB’s 2020 decision to adapt IPSAS principles when developing future standards

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Jun 03, 2020

On June 3, 2020, the Public Sector Accounting Board (PSAB) released this overview to explain PSAB’s 2020 decision to adapt IPSAS principles when developing future standards.

At its May 5, 2020 meeting, PSAB voted to adapt IPSAS principles when developing future standards. This decision has been years in the making, including extensive consultation with Canadian stakeholders, as part of the Board’s International Strategy project.

While PSAB has made the decision, more planning and work will be done to support stakeholders in this change. The Board itself will also continue to work on implementing this change into its due process, which will require further discussion and work in the coming year.

A basis for conclusions will be issued in July 2020 that will outline how PSAB came to this important decision.

Review the In Brief on the PSAB's website.

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