News Listings

The Board discussed topics such as IFRS® Standards, Insurance, Revenue, Combinations, Contributions, and ASPE implementation questions, among others.

AcSB Exposure Draft – Employee Future Benefits – Use of a Funding Valuation

The AcSB seeks feedback on its proposals to modify the guidance on using an actuarial valuation for funding purposes in the measurement of the defined benefit obligation. These proposals apply to private enterprises and not-for-profit organizations applying the standards in Parts II and III of the CPA Canada Handbook – Accounting. Stakeholders are encouraged to submit their comments by December 16, 2019.

At its recent meeting, the Committee discussed a number of topics including Revenue, Related Party Transactions, the relevance of financial reporting, and much more.

The Board discussed several topics during its two-day meeting including Audits of Less Complex Entities, Quality Management, Agreed-upon Procedures, Identifying and Assessing the Risks of Material Misstatement and others. Read the full Decision Summary for further detail.

On August 19, 2019, the AcSB responded to the IASB’s Exposure Draft, Annual Improvements to IFRS® Standards 2018-2020. The Exposure Draft proposed amendments to IFRS Standards as part of the IASB’s Annual Improvements process. Read our letter to understand the matters we raised to the IASB for further consideration.

Hear Armand Capisciolto, Vice-Chair of the Accounting Standard Board, discuss implementation questions on the application of the amendments to Section 3856, Financial Instruments.

The Board discussed its draft response to the IAASB’s Discussion Paper for Audits of Less Complex Entities and key issues related to Compilation Engagements. Read the summary for full details.

AcSB Exposure Draft – Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice Statement 2)

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 November 29, 2019.

At its upcoming meeting the Board will consider matters regarding IFRS^® Standards, standards for private enterprises, not-for-profit organizations, and due process, among others.

The IASB has issued an Exposure Draft proposing amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements. Canadian stakeholders are encouraged to submit their comments to the IASB by November 29, 2019.