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Climate-related Risks on ASPE Financial Statements

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Climate change is impacting businesses worldwide, bringing challenges to both operations and financial reporting. The AcSB is releasing a series of awareness documents, developed to help organizations in navigating climate-related matters using ASPE standards, for improved financial reporting.

Survey: Contributions & Revenue Recognition

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The AcSB invites not-for-profit organizations to participate in a survey and help develop a new exposure draft on accounting for restricted contribution revenue and related matters. Provide your input by August 16, 2024, and help us refine the standards to better serve the sector.

Virtual Roundtables on Pension Plan Investment Disclosures

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Join the AcSB on September 9 (English) or on September 10 (French) for a virtual roundtable discussion on the Exposure Draft, “Improvements to Presentation and Disclosure of Investments for Pension Plans.” Share your insights and help shape the future of pension plan reporting.

News Listings

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July 10, 2024

News

Volunteer Opportunity – Auditing and Assurance Standards Board

Become a member of the Auditing and Assurance Standards Board. Contribute to Canadian standards, gain professional insights, and engage with a diverse community. Apply by September 13, 2024.

July 10, 2024

News

Volunteer Opportunity – Public Sector Accounting Board

Become a member of the Public Sector Accounting Board. Contribute to Canadian standards, gain professional insights, and engage with a diverse community. Apply by September 13, 2024.

July 10, 2024

News

Volunteer Opportunity – Accounting Standards Board

Become a member of the Accounting Standards Board. Contribute to Canadian standards, gain professional insights, and engage with a diverse community. Apply by September 13, 2024.

July 5, 2024

News

IFRS® Accounting Standards Discussion Group – Request for Issues

The IFRS Accounting Standards Discussion Group invites you to share  the challenges you face when applying IFRS Accounting Standards. Submit your issue by July 16, 2024, for consideration as a discussion topic at our September 12, 2024, meeting.

June 26, 2024

Document for Comment

ISC Exposure Draft – Proposed Revisions Relating to Definitions of Public Interest Entity and Listed Entity in Canadian Independence Standards

The Independence Standing Committee’s (ISC) Exposure Draft outlines its proposals to revise the definition of “public interest entity” (PIE) in the Canadian Independence Standards (CIS), to align more closely with the IESBA Code. Final changes to the CIS may impact our Listed Entity and PIE project. Respond directly to the ISC by September 30, 2024, and have your say.

June 19-20, 2024

Meeting Summary, Webpage

AcSB Decision Summary – June 19-20, 2024

The AcSB discussed Contributions, Business Combinations – Disclosures, Goodwill and Impairment, Intangibles, Insurance Contracts with Cash Surrender Value, Climate-related and Other Uncertainties in the Financial Statements, and more. Read the Decision Summary for full details.

June 17, 2024

News

IASB issues new IFRS® Accounting Standard – IFRS 19 Subsidiaries without Public Accountability: Disclosures

The IASB’s newly issued IFRS Accounting Standard, IFRS 19 Subsidiaries without Public Accountability: Disclosures, permits eligible subsidiaries to use IFRS Accounting Standards with reduced disclosures. IFRS 19 is effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB will ballot IFRS 19 and complete its endorsement process in Q2 2024. Find out more.

June 10-11, 2024

Meeting Summary, Webpage

AASB Decision Summary – June 10-11, 2024

The AASB discussed the IAASB’s topics: Going Concern, Listed Entity/Public Interest Entity Track 2, Sustainability Assurance, and Technology Position. It discussed Canadian topics: Audits of Less Complex Entities and Compilations of Future-oriented Financial Information. Read the decision summary for full details.

June 4, 2024

International Activity, Document for Comment, News

IASB Exposure Draft – Contracts for Renewable Electricity

The IASB has published its Exposure Draft, “Contracts for Renewable Electricity,” which proposes amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. Respond directly to the IASB with your feedback by August 7, 2024. Also, stay tuned for the AcSB's wraparound exposure draft. If you want the AcSB to consider your feedback before finalizing our comment letter, please respond by July 31, 2024.

June 1, 2024

Resource, Article

2023 Changes to Part I – AcSB Due Process – Endorsement Activities

How do new or amended IFRS® Accounting Standards make their way into the CPA Canada Handbook – Accounting? Find out via this overview of the due process activities we completed in support of changes made to Part I of the Handbook in 2023.