Public Sector Accounting Board (PSAB)

The Public Sector Accounting Board (PSAB) is an organization that develops and sets accounting standards for government entities in Canada. Its goal is to ensure transparency, consistency, and accountability in financial reporting by public sector organizations such as federal, provincial, and municipal governments. By establishing clear guidelines, PSAB helps taxpayers, policymakers, and stakeholders understand how public funds are managed and spent. This enhances trust and allows for better decision-making regarding public finances. PSAB operates under the Chartered Professional Accountants (CPA) Canada and ensures that government financial statements are clear, reliable, and comparable.