AcSB

Accounting Standards Board

About the AcSB

The Accounting Standards Board (AcSB) is an independent body with the authority to establish accounting standards for use by all Canadian entities outside the public sector. We serve the public interest by establishing standards for financial reporting by all Canadian private sector entities and by contributing to the development of internationally accepted financial reporting standards.

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AcSB Exposure Draft – Accounting for Common Control Combinations

The AcSB wants your feedback on its proposed amendments to Section 3840, Related Party Transactions. These proposed narrow-scope amendments address accounting for a combination between enterprises or businesses under common control. Submit your comments by February 14, 2025.

Respond now

Volunteer Opportunity – Seeking users of private enterprise financial statements

Would you like to help improve financial reporting for private enterprises? Do you regularly review or use private enterprise financial statements to make decisions? If so, the AcSB needs you on its new Canadian Private Enterprise User Advisory Committee! Apply to be a new member by February 15, 2025.

Apply now

Meeting & event summaries

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January 23, 2025 AcSB Decision Summary – January 23, 2025

The AcSB discussed Agriculture, Pension Plans, its Annual and Strategic Plans, and more. Read the Decision Summary for full details.

December 12, 2024 AcSB Decision Summary – December 12, 2024

The AcSB discussed Subsequent Measurement of Goodwill and Acquired Intangibles, Equity Method, Detailed Review of ASPE, Agriculture and Inventories, its Annual Plan, and more. Read the Decision Summary for full details.

December 3, 2024 IFRS® Accounting Standards Discussion Group Meeting Report – December 3, 2024

The Group discussed Accounting for Debt Modifications, Year-end Financial Reporting Reminders, and more. Read the meeting report for full details!

News

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February 5, 2025 Resource, Guidance

What You Need to Know about Effects of Climate-related Risks and Opportunities on ASPE Financial Statements: Awareness Document

The AcSB is exploring the potential impacts of climate change on businesses and financial reporting under Accounting Standards for Private Enterprises (ASPE).

In this third installment, we dive into climate-related factors and its potential impacts on financial instruments, including fair value measurement, as well as consolidation and control.

This ongoing series equips organizations with the insights needed to navigate climate-related matters—and financial reporting under ASPE.

December 16, 2024 Document for Comment

AcSB Exposure Draft – Accounting for Common Control Combinations

December 9 - January 15, 2025 Meeting, News

Virtual Roundtable Discussions – IASB Exposure Draft, “Provisions – Targeted Improvements”

Join the AcSB for a virtual roundtable discussion (in English) to learn about the IASB’s Exposure Draft, “Provisions – Targeted Improvements.” Don’t miss this chance to share your feedback directly with us to help inform our response to the IASB. Register now to save your spot!