I would make a few comments, but I'm sure Mr. Ralston would like to jump in because he is a member of the public sector accounting board. Auditor General Michael Ferguson is also a member.
Essentially, a lot of these standard-setting bodies try not to reinvent the wheel. They look at one another's conceptual framework, and where it needs to differ is when they define the differences; they articulate them in individual standards that we need to follow.
In the case of PSAB, basically we could look at the IFRS framework. We could also look at the international public sector framework. From there we decide whether there is a Canadian difference in what the public sector needs to do and then we articulate our own standards accordingly.