News Listings

The Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) have initiated a review of Canadian standard setting. The Independent Review Committee on Standard Setting in Canada was formed to review of the governance and structure for establishing accounting, auditing, and assurance standards, as well what might be needed for the future – including sustainability standards. 

Despite the pandemic, we moved our work forward. We were nimble in this new environment—delaying and advancing projects based on the importance to our stakeholders. Read about the AcSB’s 2020-2021 activities and accomplishment in this year’s Annual Report.

The Board discussed the Disclosure Initiative, Third Agenda Consultation, Contributions, and the AcSB’s Strategic Plan. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The Trustees of the IFRS Foundation published proposed amendments to the Constitution of the Foundation to accommodate a potential new International Sustainability Standards Board within the governance structure of the organization. Canadian stakeholders are encouraged to reply to the Foundation by July 29, 2021. 

The Board discussed the Post Implementation Review of IFRS 10, 11, and 12, Insurance Contracts, AcSB’s Strategic Plan, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives. 

The Board discussed the Post Implementation Review of IFRS 10, 11, and 12, IBOR Reform, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The AcSB wants to hear your feedback on the IASB Request for Information on the Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. Easily respond to key proposals by completing a quick poll or survey on Connect.FRASCanada.ca. Help the AcSB represent Canadian views in our response to the IASB!

The Board discussed Cloud Computing, Contributions, Pension Plans, the 2021-2022 Annual Plan, the Strategic Plan, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

This Annual Plan sets out the Board’s key activities and project milestones in 2021-2022, including the IASB’s project on Rate Regulated Activities and domestic projects such as cloud computing, contributions and pension plans. Read the plan for full details.

At its recent meeting, the Committee discussed cloud computing arrangements, interest rate benchmark reform and amendments to other frameworks.