PSAB - Strategic Plan for 2017 – 2021 [Completed]
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Comment period ends September 30, 2020 |
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Effective date: |
Effective from April 1, 2017 to March 31, 2022 |
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Transitional provisions: |
N/A |
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Last updated: |
July 2020 |
Overview
In May 2016, the Public Sector Accounting Board (PSAB) issued an Invitation to Comment on its next strategic plan, which outlines its vision, mission and strategic objectives that will guide its standard-setting activities from 2017 to 2020.
The PSAB noted that the past three years have been transformational and challenging, with transition by many government organizations into the PSA Handbook as well as some significant new standards that have been put in place.
In May 2017, the PSAB released their new three-year strategic plan. The key strategies included in the strategic plan are as follows:
- Strategy 1 – Develop standards in accordance with due process and the public interest
- Strategy 2 – Finalize the conceptual framework
- Strategy 3 – Review our approach to International Public Sector Accounting Standards
- Strategy 4 – Encourage stakeholders to support and accept our standards
- Strategy 5 – Implement a public sector not-for-profit organization strategy that meets the public interest
Other developments
July 2020
On July 30, 2020, the PSAB extended the end date of its current 2017–2021 Strategic Plan by one year to March 2022. This will provide the Board with more time to review and assess the impacts of COVID-19 on its strategic direction. Comments on this extension can be submitted by September 30, 2020.
January 2019
On January 21, 2019, the PSAB announced that it will extend the end date of its current 2017-2020 Strategic Plan by one year to March 2021. Extending the current strategic plan will allow input on key strategies that will inform the development of the next strategic plan. Key strategies include: the international strategy, concepts underlying financial reporting and the government not-for-profit strategy. Feedback on this extension should be submitted directly to PSAB by March 1, 2019.
May 2017
On May 24, 2017, the PSAB released their new three-year strategic plan.
March 2017
At its meeting on March 16-17, 2017, the PSAB approved its 2017-2020 strategic plan.
August 2016
In August 2016, the AcSB staff updated the status of this project to indicate that the PSAB expects to issue its Strategic Plan for 2017-2020 in Q2/2017.
May 2016
On May 30, 2016, the PSAB issued an Invitation to Comment in respect of its Strategic Plan for 2017 to 2020. Stakeholders are encouraged to submit their comments by October 28, 2016.