News Listings

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 is performing research to better understand and consider accounting for crypto-asset activities. The goal of our research is to identify what constitutes decision-useful information to financial statement users. Read about how we plan to bring awareness to crypto-asset accounting issues and advance evidence-informed standard setting conversations on this topic. Our first paper, “Accounting for Crypto-asset Activities: Crypto-asset Holdings – Payment Tokens,” is out now.

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.

The IASB published a Request for Information, “Post-implementation Review of IFRS 15 Revenue from Contracts with Customers.” Respond directly to the IASB with your feedback by October 27, 2023. In addition, stay tuned for more information on our upcoming virtual roundtables to help inform the Board’s response to the IASB.