Basis for Conclusions – Government Not-for-Profit Strategy

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May 05, 2022

On May 5, 2022, the Public Sector Accounting Board (PSAB) released its Basis for Conclusions for its Government Not-for-Profit (GNFP) Strategy Decision, which provides an overview of key feedback from stakeholders and how PSAB responded.

Summary of responses

What PSAB asked − Do you agree the proposed option, Option 2 – PSAS incorporating the PS 4200 series with potential customizations, best meets the Canadian public interest?

What you said − Option 2 will help improve comparability of the GNFPO financial statements. However, there was some uncertainty about how the PS 4200 series would be incorporated into PSAS and what customizations might be proposed.

What PSAB decided to do – Proceed with Option 2 as PSAB’s GNFP Strategy after careful consideration of feedback to the Consultation Papers. An implementation plan will be developed, setting out how to go about incorporating the PS 4200 series into PSAS.

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

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