Business Services Industry
Government of Canada shows leadership in financial reporting
CA Magazine, March, 2005 by Anonymous
The Public Sector Accounting Board (PSAB) has presented federal Treasury Board president Reg Alcock, PC, MP, with an award that recognizes the government's significant contribution to the advancement of excellence in public sector financial reporting.
The government of Canada is the first senior government in the country to adopt the new full accrual reporting model standards issued by PSAB in January 2003 - a full three years in advance of the effective date of the standards, March 31, 2006. In so doing, it joins a small group of international governments such as New Zealand and Australia that have moved to full accrual accounting, recognizing that it provides improved information for decision-making and accountability and a more comprehensive picture of government...
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