News Listings

On August 25, 2023, the AcSB responded to the ISSB’s Request for Information, “Consultation on Agenda Priorities.” We strongly encourage the ISSB to focus its time over the next two years on the implementation of its inaugural standards, IFRS S1 and S2. We further emphasize continuing to prioritize work that ensures connectivity between financial and sustainability reporting requirements, and the interoperability of ISSB requirements with other sustainability standards. Read our letter for more on the matters we raised to the ISSB for further consideration.

Read these top 5 frequently asked questions as both a reminder and update in advance of coming decisions related to the IRCSS’ Final Report – decisions that will pave the way forward for standard setting in Canada for years to come.

Read our In Brief on Section 3465, Income Taxes – International Tax Reform – Pillar Two Model Rules. We discuss how entities that apply Part II may be impacted by the Pillar Two Model rules issued by the Organisation for Economic Development (OECD).

The Committee held a meeting on July 26, 2023, and discussed Insurance Contracts with Cash Surrender Value, Upfront Non-refundable Fees or Payments, Scaling the Standards, and more. Read the meeting notes for full details!

The Committee discussed Contributions, Reporting Controlled and Related Entities, Scaling the Standards, and more. Read the meeting notes for full details.

On July 17, 2023, the AcSB responded to the IASB Exposure Draft, “Amendments to the Classification and Measurement of Financial Instruments.” In our response letter, we were broadly supportive of the amendments outlined in the Exposure Draft. However, we recommended that the IASB clarify or provide additional application guidance for several of its proposals and give additional flexibility on the proposed criteria associated with the derecognition of financial liabilities paid using an electronic payment system. Read our letter for more on the matters we raised to the IASB for further consideration.

Are you interested in contributing to accounting standard-setting in Canada? If so, we want to hear from you! Learn more about the available volunteer role on our Board and apply by September 15, 2023.

Are you interested in contributing to accounting standard-setting in Canada? If so, we want to hear from you! Learn more about the available volunteer role on our Board and apply by September 15, 2023.

The AcSB discussed Sustainability, the Post-implementation Review of IFRS 15 Revenue from Contracts with Customers, progress on its Annual Plan, and more. Read the Decision Summary for full details, including how you can provide feedback on these initiatives.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by July 19, 2023, for consideration as a discussion topic at our September 19, 2023, meeting.