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The Group discussed Accounting for Lending Crypto Assets, Accounting for Earn-in Expenditures Prior to Acquisition of a Mining Interest, Accounting for the Development of Carbon Credits that will Ultimately be Sold, and more. Read the meeting report for full details!

Watch the AcSB’s recorded webinar to learn more about the proposals in our Exposure Draft, “Contributions – Revenue Recognition and Related Matters,” and how they may affect financial reporting by not-for-profit organizations. We also present different ways you can share your feedback throughout our consultation period.

The AcSB discussed Sustainability, Domestic Implications of International Tax Reform, Related Party Combinations, Pension Plans, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

We are committed to serving the public interest by effectively responding to the needs of interested and affected parties. Read about the AASB’s 2022-2023 activities and accomplishments in this year’s Annual Report.

The AcSB discussed Insurance Contracts with a Cash Surrender Value, Pension Plans, the AcSB’s Performance Report and Annual Report, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The Committee held a meeting on May 3, 2023, and discussed Revenue Application Issues, Upfront Non-refundable Fees or Payments, Related Party Combinations, and International Tax Reform. Read the meeting notes for full details!

The Board discussed comments received on its Exposure Draft, “CAS 500, Audit Evidence”, approved an exposure draft on Going Concern, and reviewed a draft response letter to the IAASB’s Exposure Draft, Proposed Part 10, Audits of Group Financial Statements of Less Complex Entities. The Board also received an update on the results of its survey and reviewed a draft of its response letter to the IAASB’s Proposed Strategy and Work Plan. Read the Decision Summary for more details.

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.

Read our In Brief for an overview of Exposure Draft (ED), “Contributions – Revenue Recognition and Related Matters." The ED proposals aim to improve financial reporting by not-for-profit organizations by creating guidance that will result in financial statements that are less complex and more comparable for financial statement users. Share your feedback by submitting a comment letter by September 30, 2023, and/or attending one of our roundtables to be held during the comment period.

The Board discussed updates related to the Annual Report 2022-2023, the Reporting Model, the Technical Advisory Group (TAG), the Indigenous Advisory Group (IAG), Employee Benefits, and more. Read the Decision Summary for full details.