Skip to main content

Accounting Standards for Pension Plans

Scaling the Standards

Summary

As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to exploring scaling the standards for non-listed entities to better meet different reporting needs. 

Scaling the standards (or tiering) may mean providing accounting policy choices, changing disclosure requirements, or even adding new frameworks to the CPA Canada Handbook – Accounting (Handbook) to better meet the needs of entities of all sizes, and interested and affected parties.

What is Scalability?

Watch this video to learn more about what Scalability is, how our proposed scalability solutions may affect financial reporting by different types of entities, and why your feedback is vital to our consultation.

Read the transcript from this video.

Staff Contact(s)

Jamie Goodman, CPA, CA Principal, Accounting Standards Board

Matthew Bishop, CPA, CA Principal, Accounting Standards Board

Project Status

  • Information gathering

    The AcSB conducted research to help it develop proposals relating to scaling the standards

  • Approving project

    The AcSB issued a Consultation Paper in March 2023

  • Engaging Communities

    The AcSB conducted outreach on its “Consultation Paper I – Exploring Scalability in Canada” from March 2023 to July 31, 2023

    Stakeholders were encouraged to respond with their comments by July 31, 2023

  • Deliberating feedback

    The AcSB deliberated on the feedback it received on its “Consultation Paper I – Exploring Scalability in Canada”

  • Final pronouncement

    Based on the feedback received during its outreach on Consultation Paper I – Exploring Scalability in Canada, the AcSB decided to undertake a Detailed Review of Accounting Standards for Private Enterprises

On-demand Webinar – Scaling the Standards

Explore what scaling the standards means, the research the AcSB has been doing in this space, and potential scalability solutions identified by the AcSB so far.

News


April 19, 2023

Resource, Webinar

On-demand Webinar – Scaling the Standards

The size and complexity of Canada’s private enterprises, not-for-profit organizations, and pension plans are varied. Could changing the existing accounting standards through scaling better meet the needs of those who develop financial statements for these types of entities – and those who use them? Watch our recorded webinar for more on what scaling our standards means and a general update on our other domestic projects

April 6, 2023

News

Virtual Roundtable Discussions – Stakeholder views sought on the AcSB’s “Consultation Paper I – Exploring Scalability in Canada”

Attend an upcoming roundtable discussion to provide your feedback on the AcSB’s “Consultation Paper I – Exploring Scalability in Canada.” This is your chance to share your views directly with the AcSB! Register now for our sessions taking place May 26, 2023, and July 27, 2023 (English), and June 1, 2023 (French).

March 28, 2023

Document for Comment, News

AcSB Consultation Paper I – Exploring Scalability in Canada

The AcSB has released “Consultation Paper I – Exploring Scalability in Canada.” Read this paper to find out about our proposed scalability solutions and provide your feedback on the future direction of this project by July 31, 2023.

Meeting & event summaries


November 27, 2023

Not-for-Profit Advisory Committee Meeting Notes – November 1-2, 2023

The Not-for-Profit Advisory Committee received an overview of the feedback on its Consultation Paper I, “Exploring Scalability in Canada,” which closed for comment on July 31, 2023. Committee members discussed specific scaling solutions from a not-for-profit perspective, including the proposals to simplify/implement tiering in Part II and Part III of the CPA Canada Handbook ̶ Accounting and the need for a new framework for smaller entities in the not-for-profit landscape. The Committee discussed the feedback from the Consultation Paper that indicated that the existing Part II and Part III of the Handbook are too complex, with Committee members providing mixed views on this feedback. The Committee also discussed the broad range of organizations in the sector that are subject to audit requirements, including very small NFPOs.

The AcSB will consider the Not-for-Profit Advisory Committee’s feedback at the December 2023 Board meeting together with feedback from the Private Enterprise Advisory Committee and Small Practitioners Working Group in determining next steps on this project.

November 8, 2023

AcSB Decision Summary – October 25, 2023

The AcSB continued its discussions on its “Consultation Paper I – Exploring Scalability in Canada,” which closed for comment on July 31, 2023.

The AcSB decided to continue conducting research and targeted consultation on potential solutions to add tiering within existing Part II and Part III frameworks in the CPA Canada Handbook – Accounting and a new framework for small entities. The Board will seek feedback on these potential solutions at its October 2023 Small Practitioners Working Group meeting and at its November 2023 Not-for-Profit Advisory Committee and Private Enterprise Advisory Committee meetings.

The AcSB was not asked to make any final decisions regarding these scaling options and will discuss next steps for this project at the Board’s December 2023 meeting.

March 8, 2023

AcSB Decision Summary – March 8-9, 2023

The AcSB discussed a final draft of its “Consultation Paper I – Exploring Scalability in Canada.” Subject to minor amendments, the Board approved the Consultation Paper and plans to issue it at the end of March 2023.

March 2, 2023

AcSB Decision Summary – February 15, 2023

The AcSB discussed and approved an outreach and communications plan for its consultation paper on its strategic initiative related to scaling the standards, as set out in the 2022-2027 Strategic Plan.

The AcSB also gave permission to begin the balloting process. The Board plans to issue the consultation paper at the end of March 2023.

February 7, 2023

AcSB Decision Summary – January 26, 2023

The AcSB reviewed a revised draft of its consultation paper on its strategic initiative related to scaling the standards, as set out in the 2022-2027 Strategic Plan. The AcSB will review and approve the final consultation paper at its March 2023 meeting. The Board expects to issue the consultation paper at the end of March 2023.

Disclaimer

This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.