Reporting to the MinistryWelcome to the Reporting Entity Project extranet site.
In 2003, the Public Sector Accounting Board (PSAB) altered its standards concerning the organizations that must be included in the government (reporting entity) financial statements. To determine what organizations were affected, PSAB developed "indicators of control" - any organization that satisfied these should be consolidated. In his 2003 report, the provincial auditor concluded that the school boards and school authorities, hospitals and community colleges met these criteria and therefore should be consolidated starting on March 31, 2006.
The Ministry of Education established the Reporting Entity Workgroup in March 2005 to provide recommendations on how best to tackle various issues arising from consolidation, among them a different year-end and the reporting of tangible capital assets.
This site will provide, on a regular basis, a newsletter outlining the workgroup�s progress, memoranda relating to the project and any other information useful for school board personnel, trustees and others interested in the development of the Reporting Entity Project.
