News Listings

Accounting Standards Oversight Council met on November 14, 2023, to discuss the Public Sector Accounting Board’s and the Accounting Standards Board’s activities and related matters. Read the full report for more information.

Want to help improve accounting standards for private sector not-for-profit organizations (NFPOs) in Canada? If you have an in-depth knowledge of these standards and their application for private sector NFPOs or regularly work with financial statements in this sector, we want to hear from you. Apply to be a new member of our Not-for-Profit Advisory Committee by January 8, 2024!

The Committee met on November 8, 2023, and discussed Subsequent Measurement of Goodwill and Recognition of Acquired Intangible Assets, Scaling the Standards, potential projects for the AcSB’s 2024-2025 Annual Plan, and more. Read the meeting notes for full details!

During its November 1-2, 2023, meeting, the Not-for-Profit Advisory Committee discussed Contributions, Reporting Controlled and Related Entities, Scaling the Standards, and more. Read the meeting notes for full details.

The AcSB is embarking on the Future Domestic Work Plan Consultation to gather your input on potential new projects for our 2024-2025 annual plan and beyond. Complete the work plan survey to provide your views on potential future domestic projects for our Board.

The AcSB discussed the Post-implementation Review of IFRS 15, Scaling the Standards, and more. Read the Decision Summary for full details, including how you can provide feedback on these initiatives.

Want to join a network of financial reporting experts and be ahead of the curve on IFRS Accounting Standards hot topics? If so, we need you on the AcSB’s IFRS Accounting Standards Discussion Group! Apply to be a volunteer member by November 3, 2023.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by October 20, 2023, for consideration as a discussion topic at our December 12, 2023, meeting.

The AcSB discussed the Post-implementation Reviews of IFRS 9 and 15, Scaling the Standards, Contributions, Insurance Contracts with Cash Surrender Value, Reporting Controlled and Related Entities, Pension Plans, and more. Read the Decision Summary for full details, including how interested and affected parties can provide feedback on our initiatives.

The Group discussed Accounting for the Development of Carbon Credits by a Renewable Energy Generator, Unit of Account for Lease Modification Accounting, Accounting for Equity Instruments in a Shares-for-Debt Transaction, Classification of Liabilities with Covenants when an Entity is Granted a Waiver or Grace Period, and more. Read the meeting report for full details!