News Listings

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.

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.

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. 

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.

The AcSB discussed Application Questions, Contributions, Detailed Review of Accounting Standards for Private Enterprises, Carbon Credits Research, and more. Read the Decision Summary for full details.

On June 17, 2024, the International Accounting Standards Board, the Canadian Academic Accounting Association, and the AcSB will hold a virtual workshop targeted to academics providing an overview of IFRS 18 Presentation and Disclosure in Financial Statements. Register now to learn more!

The Group discussed Consideration of OECD Pillar Two GloBE Rules When Accounting for Deferred Tax Assets, Assessment of Cash-generating Units in a Production Facility with Multiple Production Lines When One of the Products Has a Declining Market Demand, and more. Read the meeting report for full details!

Read the feedback statement for AcSB's 2023 Exposure Draft, “Contributions – Revenue Recognition and Related Matters” to learn how your feedback has shaped the future direction of the Contributions project.

The Committee held a meeting on May 9, 2024, and discussed relief from recognition of intangible assets and amortization of goodwill, insurance contracts with cash surrender, and more. Read the meeting notes for full details!

In May, the Not-for-profit Advisory Committee discussed Contributions, Relief from Recognition of Intangible Assets and Amortization of Goodwill, Insurance Contracts with Cash Surrender Value, Evaluating the Preface, and more.