PSAB Exposure Draft Survey: “2026-2027 Annual Improvements to Public Sector Accounting Standards”

Background

The Public Sector Accounting Board (PSAB) seeks feedback on its Exposure Draft, “2026-2027 Annual Improvements to Public Sector Accounting Standards,” which is focused on the following standards:

• Section PS 2601, Foreign Currency Translation
• Section PS 3041, Portfolio Investments 
• Section PS 3450, Financial Instruments

Collectively, these standards are referred to as the financial instruments suite of standards.

This Exposure Draft is intended to clarify existing pronouncements in the CPA Canada Public Sector Accounting (PSA) Handbook. These annual improvements are not expected to propose any new principles or change any existing principles. Most importantly, the proposed annual improvements are not intended to change practice.

To ensure feedback received through the completion of PSAB’s Financial Instruments Monitoring and Financial Instruments Post-implementation Review Assessment projects are appropriately considered and addressed, PSAB approved the development of the following items relating to the financial instruments suite of standards during its March 2026 meeting:

• this Exposure Draft;
• a feedback statement; and
• a future narrow-scope amendment(s) project.

This Exposure Draft is the first of three items that will consider and address the feedback provided to PSAB relating to its financial instruments suite of standards, helping ensure PSAB remains responsive and responsible to its interested and affected parties.

How to participate

Please provide your feedback to PSAB by completing the survey below. Thank you for sharing your valuable input. We look forward to hearing from you.