News Listings

The Committee discussed Contributions, Reporting Controlled and Related Entities, Insurance Contracts with a Cash Surrender Value, and more. Read the meeting notes for full details.

The Committee held a meeting on February 2, 2023, and discussed Accounting for Insurance Contracts with Cash Surrender Value and Agriculture. Read the meeting notes for full details!

Would you like to bring the small or medium-sized practitioner perspective to accounting standard setting? If so, the AcSB needs you on its new Small Practitioners Working Group! Submit your application by February 24, 2023.

On January 9, 2023, the Accounting Standards Board (AcSB) of Canada and Accounting Standards Board of Japan (ASBJ) held their fourth bilateral meeting in Toronto. The Boards provided updates on their activities and discussed topics of mutual interest, such as crypto assets. Representatives from Financial Reporting & Assurance Standards Canada’s sustainability standards team and the Sustainability Standards Board of Japan (SSBJ) also attended the meeting. They shared updates on their activities and discussed the connectivity between sustainability and financial reporting. Read the press release, available in English.

The IASB has published an Exposure Draft, International Tax Reform – Pillar Two Model Rules which proposes amendments to IAS 12 Income Taxes. Respond with your feedback by March 10, 2023.

Former Canadian Accounting Standards Board (AcSB) Chair Linda Mezon-Hutter, who joined the International Accounting Standards Board (IASB) as member in September 2022, was appointed as the new IASB Vice-Chair. Effective January 1, 2023, this appointment comes at a pivotal time as connectivity between accounting and sustainability disclosure standards is built – both globally and in Canada.

The AcSB discussed Contributions, Strategic Research, Insurance Contracts with Cash Surrender Value, the Annual Plan, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

Is your company engaged in crypto-asset activities? Are there additional disclosures to consider beyond the specific requirements in IFRS Accounting Standards? Read this easy-to-understand resource to support your financial statement preparation process.

The Group discussed the Impact of Climate-related Risk on Financial Statements, Special Purpose Acquisition Companies (SPAC): Accounting for Warrants at Acquisition, the Canadian Interest Rate Benchmark Reform: Cessation of Canadian Dollar Offer Rates (CDOR), and more. Read the meeting report for full details!

Are you a Canadian private enterprise, not-for-profit organization, pension plan, an advisor to one, or a user of their financial statements? Watch our recorded webinar on demand to learn more about current accounting standards projects and recent amendments in Parts II, III, and IV of the CPA Canada Handbook – Accounting.