News Listings

Read our In Brief for an overview of Exposure Draft (ED), “Contributions – Revenue Recognition and Related Matters." The ED proposals aim to improve financial reporting by not-for-profit organizations by creating guidance that will result in financial statements that are less complex and more comparable for financial statement users. Share your feedback by submitting a comment letter by September 30, 2023, and/or attending one of our roundtables to be held during the comment period.

The Council met on April 3, 2023, to discuss the activities of the AASB and related matters. Read the meeting minutes for more details.

The AcSB’s Annual Plan describes the Board’s key activities and project milestones set for 2023-2024. Read about our progress on objectives from our five-year Strategic Plan, including our work to enhance the relevance of accounting standards for each category of reporting entity in Canada. 

The Board discussed updates related to the Annual Report 2022-2023, the Reporting Model, the Technical Advisory Group (TAG), the Indigenous Advisory Group (IAG), Employee Benefits, and more. Read the Decision Summary for full details.

The IASB has published an Exposure Draft, Amendments to the Classification and Measurement of Financial Instruments, which proposes updates to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. Respond with your feedback by July 19, 2023.

Are you applying the new agriculture standard for private enterprises? Do you plan to measure your agricultural inventories using net realizable value? Read this easy-to-understand resource to support your financial statement preparation process.

The Board discussed its 2023-2024 Annual Plan, 2022-2023 Performance Assessment, Emerging Issues, and the IAASB’s projects on Audit Evidence, Going Concern, Sustainability, and more. Read the Decision Summary for full details. 

The AcSB discussed Crypto-asset Activities, Reporting Controlled and Related Entities, Related Party Combinations, Revenue, Agriculture, Pension Plans, Scaling the Standards, Sustainability Reporting, the AcSB’s Annual Plan, and more. Read the Decision Summary for full details, including how you can provide feedback on these initiatives.

The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.

The Board discussed the creation of the Indigenous Advisory Group (IAG), the Technical Advisory Group (TAG), and the Financial Statement Presentation Standard (“Reporting Model”). Read the Decision Summary for full details.