News Listings

The Board reviewed a draft response letter to IASB Exposure Draft, General Presentation and Disclosures. It also discussed the impact of COVID-19 on its Draft Strategic Plan and how to reflect this in the Plan. Read the full Decision Summary for details.

The Board discussed topics such as Primary Financial Statements, Leases, Insurance Contracts – plus much more. Read the Decision Summary for full details.

At its recent meeting, the Committee discussed a number of topics including financial reporting issues related to the COVID-19 pandemic, cloud computing arrangements, and combinations.

At its recent meeting, the Committee discussed the 2020 Annual Improvements, related party transactions, and cloud computing arrangements.

PSAB approved a revised Employment Benefits project plan at the June 26, 2020 meeting. This approval comes following thorough consideration of how to respond to our stakeholders’ most pressing needs in the best way. Read this article to find out details on the new project plan, and what’s next for our stakeholders.

The COVID-19 pandemic is affecting the ability of organizations to collect and pay rent and other lease obligations. This means companies should use professional judgement and consider the potential implications that COVID-19 could have relating to the accounting for leases under IFRS 16 Leases.

During a virtual meeting, the Council discussed the activities of the AASB and other related matters. The Council also received an update on the activities of its Performance Review Committee. Read the full report for more information.

On July 15, 2020 the IASB issued an amendment to defer the effective date of Classification of Liabilities as Current or Non-current (Amendments to IAS 1) by one year. The AcSB will complete its endorsement process to incorporate the amendment into Part I of the CPA Canada Handbook – Accounting.

The Board discussed Combinations and Employee Future Benefits. Read the Decision Summary for full details.

The Board continued discussions of its draft response letter on the IAASB Consultation Paper on Extended External Reporting. It also discussed its current planned activities for emerging technology, fraud and going concern, and the evolving assurance needs of stakeholders. Read the full Decision Summary for details.