News Listings

As of March 1, 2020, Part V, also known as pre-changeover accounting standards, will be removed from the Handbook. Read more for additional information, and to find out what this means for stakeholders and preparers.

The AcSB has issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Stakeholders are encouraged to submit their comments by June 30, 2020.

Representatives of the AcSB and the Accounting Standards Board of Japan (ASBJ) met on January 13, 2020 in Toronto. This meeting was the first bilateral meeting between the AcSB and the ASBJ. Both Boards introduced their respective financial reporting frameworks and activities, and exchanged views on the opportunities for cooperation. 

The AcSB is monitoring the IASB’s 2019 comprehensive review of the IFRS for SMEs Standard. As part of the review, the IASB is developing a Request for Information, expected to be issued in the first quarter of 2020.

During a conference call, the Council discussed the activities of the AASB and other related matters. The Council also received an update on the Independence Standing Committee. Read the full report for more information.

What do you think about disclosure of certain non-GAAP measures in the financial statements? The IASB has issued an Exposure Draft relating to its Primary Financial Statements project. Have your say by June 30, 2020. The AcSB will issue its corresponding exposure draft in January 2020.

The Group discussed topics such as lease term and useful life of leasehold improvements, application of definition of lease to a surface right, and impacts of climate change on financial reporting. Read about the views expressed by Group members for helpful tips on these and other topics.

At its recent meeting, the Board discussed, reviewed, and made decisions on number of topics, including the International Strategy, Conceptual Framework and Reporting Model, Financial Instruments Narrow Scope Amendments, and Annual Improvements. Read the Decision Summary for full details.

The Canadian Academic Accounting Association’s (CAAA) 2020 conference theme is “Risky Business: Accounting in time of Uncertainty,” As research on managing, measuring and reporting risk can support Canada’s standard-setting boards’ evidence-based decision making, we encourage you to submit your papers by January 17, 2020.

The Board discussed topics such as IFRS® Standards, Insurance, Combinations, and Related Party Combinations, among others.