News Listings

PSAB encourages interested and affected parties to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 89, “Amendments to Consider IFRIC Interpretations.” Respond directly to IPSASB by June 17, 2024, to ensure Canadian-specific issues and perspectives related to the proposed amendments are considered.

The IASB’s newly issued IFRS Accounting Standard, IFRS 18 Presentation and Disclosure in Financial Statements, aims to improve the usefulness of information presented and disclosed in financial statements. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB will ballot IFRS 18 and complete its endorsement process in Q2 2024. Find out more. 

Watch our on-demand webinar to learn about the Exposure Drafts on proposed Canadian Sustainability Disclosure Standards (CSDS) 1 & 2, and to help prepare your response for our key documents.

The AcSB discussed Financial Instruments with Characteristics of Equity, Climate-related Risks and Opportunities, Subsequent Measurement of Goodwill and Acquired Intangible Assets, Contributions, the Guidance Framework and more. Read the Decision Summary for full details.

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.   

The Canadian Sustainability Standards Board (CSSB) Consultation Paper, Proposed Criteria for Modification Framework, is now open for comment. The Paper sets out how the Board proposes to introduce changes, if required, to IFRS Sustainability Disclosure Standards for use in Canada. Submit your comments to the CSSB by June 10, 2024

The CSSB has issued two Exposure Drafts, “CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information,” and “CSDS 2, Climate-related Disclosures.” This webpage provides a plain and simple overview of the Exposure Drafts and ways you can provide your input.

Canada’s first proposed Canadian Sustainability Disclosure Standards (CSDS) are out for public comment until June 10, 2024. Exposure Drafts on CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information, and CSDS 2, Climate-related Disclosures align with the 2023-released IFRS S1 and S2 global baselines, with modifications introduced to align with Canadian-specific needs. Also out for comment is a paper discussing how the CSSB proposes to introduce changes, if required, to IFRS Sustainability Disclosure Standards for use in Canada. The Board will be offering a variety of ways to take part in the consultation, ensuring a wide range of perspectives are considered before finalizing the proposals.

The Not-for-Profit Advisory Committee discussed Contributions, financial statement concepts, Revenue, guidance, and more. Read the meeting notes for full details.

In its narrow-scope amendment Exposure Draft, GAAP Designation of PSA Handbook Appendices, PSAB proposes to assign a higher level of authority under GAAP to four application guidance PSA Handbook Appendices. Tell us if you agree with the amendments and submit your feedback by April 11, 2024.