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Addendum to the Exposure Draft Third edition of the IFRS for SMEs® Accounting Standard
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The IASB issued an Exposure Draft in March 2024
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Business Combinations – Disclosures, Goodwill and Impairment
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The AcSB submitted its response letter to the IASB in July 2024
The IASB is currently deliberating comments on its Exposure Draft
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Climate-related and Other Uncertainties in the Financial Statements
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The IASB is deliberating comments on its Exposure Draft
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Crypto-asset Activities
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The AcSB is conducting research to help it further develop its understanding of crypto-asset activities in Canada and around the world
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Dynamic Risk Management
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The IASB added this project to its standard-setting program in May 2022
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Equity Method
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The IASB is deliberating comments on its Exposure Draft
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Evaluating the Preface
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AcSB is researching issues with the current Preface of the CPA Canada Handbook – Accounting to identify potential solutions
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Financial Instruments with Characteristics of Equity
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The IASB is currently deliberating comments on their Exposure Draft
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Intangible Assets
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The AcSB is undertaking research to get a better understanding on the types of intangibles that are gaining prevalence in the Canadian market and the information required by financial statement users
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Management Commentary
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The IASB is currently deliberating comments on their Exposure Draft
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Post-implementation Review of IFRS 16 Leases
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The IASB expects to publish a request for information in the first half of 2025
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Provisions – Targeted Improvements
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The IASB issued its Exposure Draft, “Provisions—Targeted Improvements,” in November 2024
The AcSB issued an Exposure Draft that corresponds to the IASB Exposure Draft in November 2024
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Rate-regulated Activities
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The IASB is currently drafting the new Standard and expects to issue it in the second half of 2025, with an effective date of January 1, 2029. Early application of the Standard will be permitted
The AcSB will ballot the new Standard after issuance and complete its endorsement process
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Second Comprehensive Review of the IFRS for SMEs Accounting Standard
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The IASB is currently deliberating comments on their Exposure Draft
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Statement of Cash Flows and Related Matters
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The AcSB is performing research to understand the usefulness of the Statement of Cash Flows and whether there are other cash flow measures more relevant to financial statement users
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Translation to a Hyperinflationary Presentation Currency
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The IASB is deliberating comments on its Exposure Draft
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