AUTUMN 2013
FMI
*
IGF JOURNAL
15
Conclusion
The Public Sector Accounting Board’s
PS3260, Liability for Contaminated Sites
will become effective in less than a year,
on April 1, 2014. Government entities
have significant work remaining to fully
assess the impact this standard may have
on their financial reporting. Though
many government entities recorded
environmental
liabilities
previously
on their financial statements, PS3260
requires an added rigour of assessment
regarding which sites are contaminated,
as well as improved consistency of
liability measurement. Given the extent
of coordination required with operational
areas outside of finance, and the potential
need to engage environmental engineers
to perform site assessments, PS3260
may require a longer lead time for
implementation than other sections for
certain entities. Communication with
senior management and audit committees
is also essential to ensure they understand
financial reporting changes that may be
coming next year. Now is the time to start.
Wishing you all a good implementation!
ACCOUNTING FOR CONTAMINATED SITES
Summer came very slowly to Manitoba, and then when it finally
arrived, the diligent Manitoba Chapter Board Members got
together for a rousing planning session for the 2013-2014 year.
The 50
th
Anniversary of fmi
*
igf and reminiscing of yesteryear
motivated the Manitoba Chapter Board to keep its programming
strong.
As usual, the Chapter’s September meeting was its strongly
attended Annual General Meeting. As only members attend the
AGM, distribution of the event notice generated as always a spike
in new and renewed memberships. Results the Chapter likes
to see!
On October 30th, Guy Gordon of the Institute for Citizen-
Centred Service (ICCS) spoke to an engrossed crowd on “The
Evolution of Citizen-Centred Service Delivery.” Attendees
listened intensely to Guy’s presentation.
Read full details of Manitoba Chapter’s events and activities online
@
, click on the “Chapters” tab.
Manitoba
Chapter News
Manitoba Chapter
The finishing touches are being put in the schedule for post-
holiday sessions. We anticipate three more exciting events before
we wrap up the 2013-2014 year next June.
About the Author:
Based in Ottawa, Bailey Church, CA, CIA is the Co-Leader for KPMG’s Public Sector Accounting
Advisory service line nationally. Bailey has over twelve years of experience serving, or working in
the public sector, including significant experience advising on accounting policies and accounting
for complex transactions, analyzing accounting implications of structural changes, and financial
reporting requirements for public sector entities, considering the impact, and the broader effect
on business processes. Bailey served as a member of the Canadian Institute of
Chartered Accountant’s Public Sector Accounting Board task force on financial
reporting for government organizations. The role of this task force was to assist
in determining the applicability of International Financial Reporting Standards
and Public Sector Accounting Standards to government organizations. Bailey
has served as a Professor of Auditing at both the University of Ottawa and
Carleton University since 2005. Bailey welcomes any comments or questions
on this article at 613-212-3698, or
.
Guy Gordon
