Municipal Affairs and Environment

Public Sector Accounting Board (PSAB)
Our Vision, Goal, Outcomes, Outputs and Inputs

PSAB can Influence Vision The public understands and has confidence in public sector reporting
Goal The public sector produces a decision-useful, multi-dimensional accountability report
Long Term Outcomes Comprehensive, high quality financial statements Comprehensive, high quality accountability reports Acceptance through awareness, support, understanding and use
Intermediate Outcomes Comprehensive, high quality GAAP Comprehensive, high quality SORPs Stakeholders understand benefits of GAAP and SORPs
Immediate Outcomes GAAP are being used as basis of reporting SORPs are being used as basis of reporting Stakeholders are aware of and support GAAP and SORPs
PSAB controls Outputs GAAP/Guidance Development SORP/Guidance Development Communication Activities
Activities Research, due process, standard setting and recommended practices, PSAB and task force meetings Articles, brochures, presentations, Website, courses and PSABulletin
Inputs Staff, financial resources, volunteers

GAAP refers to generally accepted accounting principles
SORPs are statements of recommended practices

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