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The AcSB discussed Contributions, Crypto-asset Lending, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The Committee discussed Contributions, Revenue, Reporting Controlled and Related Entities, Insurance Contracts with a Cash Surrender Value, and more. Read the meeting notes for full details.

In 2022, an independent research study on KAM reporting was undertaken to gain further insights on the Canadian experience. Lessons learned from the research study can be found here.

The time has come to recruit the inaugural chair of the new CSSB. A visible and experienced leader in the sustainability reporting community, the Chair will support recruitment of board members and establish the CSSB’s first multi-year strategic plan in their initial months in the role. Applications are due November 15, 2022. 

The Board discussed its draft response to the IAASB’s Exposure Draft, “Proposed Narrow Scope Amendments to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance”. Read the Decision Summary for full details.

With 13 members newly appointed, the Canadian Sustainability Standards Board (CSSB) Implementation Committee has begun its work to develop the initial institutional structure for this new standard-setting board. Membership includes representation from both of Canada’s standard-setting oversight councils and subject matter experts in sustainability from across the country. 

The Board discussed its draft response to the IAASB’s Exposure Draft, “Proposed Narrow Scope Amendments to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance.” It also discussed issues related to Audit Evidence, Fraud, Going Concern, Sustainability, and more. Read the full Decision Summary for details.

The Board discussed the Independent Review of Standard Setting, International Strategy, Financial Statement Presentation Standard, Employee Benefits, and other matters. Read the Decision Summary for full details.

The AcSB discussed Contributions, Cloud Computing Arrangements, Related Party Combinations, Reporting Controlled and Related Entities, Sustainability, Pension Plans, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The AASB has provided an update on its progress to finding a solution for practitioners in applying Canadian Auditing Standards to audits of less complex entities. Read the Report for full details.