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Opening the public sector accounting door for natural assets
Along with 33 other organizations, MNAI made a submission to a consultation process that could open the door for natural assets to be properly considered in public sector accounting.
Why does this matter? The Public Sector Accounting Handbook underpins all accounting by Canada’s public sector. Currently, the handbook does not allow natural resources to be counted as “real” assets. It states that “the costs, benefits and economic value of such items cannot be reasonably and verifiably quantified using existing methods.” The handbook suggests that natural assets do not have an inherent value and make no economic contribution. The evidence tells a very different story.
Along with our partners, we look forward to working with the Public Sector Accounting Board to change this situation. Read our submission here. Let us know if you have any questions. Together, we can make nature count.