News Listings

Would you like to bring the small or medium-sized practitioner perspective to accounting standard setting? If so, the AcSB needs you on its new Small Practitioners Working Group! Submit your application by February 24, 2023.

The AASB has developed guidance to address the impact on Canadian Auditing Standards and Canadian Standard on Review Engagements of certain narrow-scope amendments made to IAS 1, Presentation of Financial Statements.

The Board discussed developing a new Canadian Standard on Related Services on compilations of future-oriented financial information and approved a Canadian Project Proposal for sustainability assurance. It also discussed annual planning, the Strategic Plan 2022-2025, and more. Read the Decision Summary for full details.

The Board discussed the Future Work Plan Consultation, 2023-2024 Draft Annual Plan & Risk Assessment, and the Financial Statement Presentation Standard (“Reporting Model”). Read the Decision Summary for full details.

Watch our videos to learn about the International Public Sector Accounting Standards Board (IPSASB) and its accounting standards for public sector entities, related to routine transactions of assets, liabilities, revenues and expenses.

On January 9, 2023, the Accounting Standards Board (AcSB) of Canada and Accounting Standards Board of Japan (ASBJ) held their fourth bilateral meeting in Toronto. The Boards provided updates on their activities and discussed topics of mutual interest, such as crypto assets. Representatives from Financial Reporting & Assurance Standards Canada’s sustainability standards team and the Sustainability Standards Board of Japan (SSBJ) also attended the meeting. They shared updates on their activities and discussed the connectivity between sustainability and financial reporting. Read the press release, available in English.

The IASB has published an Exposure Draft, International Tax Reform – Pillar Two Model Rules which proposes amendments to IAS 12 Income Taxes. Respond with your feedback by March 10, 2023.

The Board discussed the update from the Public Sector Accounting Discussion Group meeting, 2022-2023 Annual Improvements project, Financial Statement Presentation Standard (“Reporting Model”), the Government Not-for-Profit Strategy, and other matters. Read the Decision Summary for full details.

Former Canadian Accounting Standards Board (AcSB) Chair Linda Mezon-Hutter, who joined the International Accounting Standards Board (IASB) as member in September 2022, was appointed as the new IASB Vice-Chair. Effective January 1, 2023, this appointment comes at a pivotal time as connectivity between accounting and sustainability disclosure standards is built – both globally and in Canada.

The AcSB discussed Contributions, Strategic Research, Insurance Contracts with Cash Surrender Value, the Annual Plan, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.