News Listings

The IASB’s newly issued IFRS Accounting Standard, IFRS 18 Presentation and Disclosure in Financial Statements, aims to improve the usefulness of information presented and disclosed in financial statements. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB will ballot IFRS 18 and complete its endorsement process in Q2 2024. Find out more. 

The AcSB discussed Financial Instruments with Characteristics of Equity, Climate-related Risks and Opportunities, Subsequent Measurement of Goodwill and Acquired Intangible Assets, Contributions, the Guidance Framework and more. Read the Decision Summary for full details.

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.   

The Not-for-Profit Advisory Committee discussed Contributions, financial statement concepts, Revenue, guidance, and more. Read the meeting notes for full details.

The AcSB issued its Exposure Draft, “Financial Instruments with Characteristics of Equity,” which corresponds to the IASB’s Exposure Draft on this topic. If you would like your feedback considered prior to our Board finalizing our comment letter, please respond to us by March 1, 2024.

The AcSB discussed Contributions, Subsequent Measurement of Goodwill and Acquired Intangible Assets, Scaling the Standards, the AcSB’s Annual Plan, and more. Read the Decision Summary for full details, including how you can provide feedback on these initiatives.

The Committee discussed Contributions, Recognition of intangible assets and amortization of goodwill and more. Read the meeting notes for full details.

Representatives of the Accounting Standards Board (AcSB) of Canada and the Accounting Standards Board of Japan (ASBJ) held their fifth bilateral meeting on January 8 and 9, 2024 in Montreal, Canada. The Boards provided updates on their respective activities and discussed agenda items in which both Boards have interest, such as power purchase agreements and climate-related and other uncertainties in the Financial Statements. Read the press release, available in English. 

On December 5, 2023, the AcSB responded to the IASB’s Exposure Draft, “Annual Improvements to IFRS Accounting Standards—Volume 11,” issued in September 2023. The AcSB’s letter expressed that overall, the proposed amendments will help address application challenges and improve the consistency of the application of the respective IFRS Accounting Standards. Read our letter to find out more!

Please note: this letter is posted on an external website; if you need an accessible version, please email us at [email protected].

The AcSB discussed Financial Instruments with Characteristics of Equity, Pension Plans, the AcSB’s Annual Plan, and more. Read the Decision Summary for full details, including how you can provide feedback on these initiatives.