News Listings

The AcSB has issued a revised version of its Due Process Manual. The changes were made to clarify certain processes and better support the Board in responding to stakeholder needs on a timely basis.

Just in time for year-end reporting, the IFRS^® Discussion Group is out with its December 2021 meeting report! The Group discussed financial reporting hot topics such as the IFRS^® Interpretations Committee’s tentative agenda decision on accounting for cash received via electronic transfer as settlement for a financial asset and accounting for a renewable energy power purchase agreement. Read the full report for details.

On January 25, 2022, representatives of the Accounting Standards Board (AcSB) of Canada and the Accounting Standards Board of Japan (ASBJ) held their third bilateral meeting. At this virtual meeting, the Boards discussed topics of mutual interest, such as financial instruments, disclosure initiatives and responding to changes in the market environment, including the interest of stakeholders. Read the press release, available in English.

Help the AcSB inform the development of IFRS^® Standards by submitting academic papers for the IASB Research Forum being held in conjunction with Accounting In Europe and European Accounting Review. Topics of interest include recognition, measurement and disclosure of internally generated assets and new types of intangibles, sustainability reporting, pollutant pricing mechanisms, and cryptocurrencies. Submit papers through the online submission system by March 31, 2023.

The pandemic continues to greatly impact the activities of organizations and individuals. To ensure stakeholders have adequate time to weigh in on this Consultation Paper, the IRCSS has extended the comment period for its Consultation Paper from February 28, 2022, to March 31, 2022.

The Board discussed Classification of Debt as Current or Non-Current, Retractable or Mandatorily Redeemable Shares, PIR of IFRS 9, Cloud Computing, the Draft Strategic Plan, Annual Plan, Parts II and III Priorities, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

Since commencing a review of standard setting in May 2021, the Independent Review Committee on Standard Setting in Canada (IRCSS) has released its Consultation Paper for public comment. With the goal to ensure that Canadian standard setting will continue to be independent and internationally recognized, the IRCSS’ paper explores several key matters including establishing a Canadian Sustainability Standards Board; public interest considerations and responsibilities to Indigenous peoples in the development of standards; governance and oversight framework of the Canadian standard-setting system; and timeliness and responsiveness of the current accounting, auditing, and assurance standard setting processes. Respond by February 28, 2022, and help the IRCSS shape its final recommendations report.

At its meeting, the Committee discussed the accounting for cloud computing arrangements and more. Read the meeting notes for full details. 

The Board discussed the PSA Discussion Group, the Government Not-for-Profit Strategy, Post-Implementation Review Assessments, the Monitoring Project Plan, and more. Read the Decision Summary for full details.

Since the launch of our Framework for Reporting Performance Measures in December 2018, the world has witnessed significant change. With increased activity and momentum around sustainability reporting - as well as a new National Instrument on other financial measure disclosures from the CSA - disclosure of performance measures  is more relevant today than ever. To help you prepare for year-end reporting while navigating these changes, we revised our Framework for Reporting Performance Measures.