News Listings

The Group discussed Accounting for Lending Crypto Assets, Accounting for Earn-in Expenditures Prior to Acquisition of a Mining Interest, Accounting for the Development of Carbon Credits that will Ultimately be Sold, and more. Read the meeting report for full details!

The AcSB discussed Sustainability, Domestic Implications of International Tax Reform, Related Party Combinations, Pension Plans, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

Watch the AcSB’s recorded webinar to learn more about the proposals in our Exposure Draft, “Contributions – Revenue Recognition and Related Matters,” and how they may affect financial reporting by not-for-profit organizations. We also present different ways you can share your feedback throughout our consultation period.

The Committee discussed Revenue, Reporting Controlled and Related Entities, Insurance Contracts with a Cash Surrender Value, and more. Read the meeting notes for full details.

This past year, AASOC remained flexible to new challenges in the stand-setting space. Read our 2022-2023 Annual Report to learn more about the work we did, including our oversight of the AASB.

The AcSB discussed Insurance Contracts with a Cash Surrender Value, Pension Plans, the AcSB’s Performance Report and Annual Report, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The Committee held a meeting on May 3, 2023, and discussed Revenue Application Issues, Upfront Non-refundable Fees or Payments, Related Party Combinations, and International Tax Reform. Read the meeting notes for full details!

The AcSB issued its Exposure Draft which corresponds to the IASB’s Exposure Draft on this topic. If you would like your feedback considered prior to our Board finalizing our comment letter, please respond to us by July 7, 2023.

The Board discussed comments received on its Exposure Draft, “CAS 500, Audit Evidence”, approved an exposure draft on Going Concern, and reviewed a draft response letter to the IAASB’s Exposure Draft, Proposed Part 10, Audits of Group Financial Statements of Less Complex Entities. The Board also received an update on the results of its survey and reviewed a draft of its response letter to the IAASB’s Proposed Strategy and Work Plan. Read the Decision Summary for more details.

The size and complexity of Canada’s private enterprises, not-for-profit organizations, and pension plans are varied. Could changing the existing accounting standards through scaling better meet the needs of those who develop financial statements for these types of entities – and those who use them? Watch our recorded webinar for more on what scaling our standards means and a general update on our other domestic projects.