Contaminated Sites - A Practical Approach to Section PS 3260

December 18, 2014

Section PS 3260, Liability for Contaminated Sites, was issued by the Public Sector Accounting Standards Board (PSAB or the “Board”) in June 2010. This Section establishes standards on how to account for and report a liability associated with the remediation of a contaminated site. It is effective for year ends beginning on or after April 1, 2014 and it applies to all governments and government organizations following Public Sector Accounting Standards (PSAS). The first annual period impacted by this standard is the year ended March 31, 2015. In this publication we will walk through a practical approach to applying this standard.

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