PSAB’s Exposure Draft “Intangible Assets, Proposed Section PS 3155”

During past project consultations and PSAB’s ongoing research, we noticed a need for a comprehensive intangible assets standard in the CPA Canada Public Sector Accounting (PSA) Handbook. There is a growing need for clear, consistent accounting in this area of the Canadian public sector. 

In order to fill the gap, we developed Proposed Section PS 3155 by applying PSAB’s International Strategy and adapting principles from the International Public Sector Accounting Standard (IPSAS) 31, Intangible Assets. Proposed Section PS 3155 will replace the existing guideline, PSG-8, Purchased Intangibles, and provide foundational guidance on the accounting for intangible assets.

This proposed standard is comprehensive and will also address accounting for purchased intangibles, developed intangibles, and software assets not integral to computer hardware.

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