Top Stories

Like you, we are monitoring the COVID-19 pandemic closely and evaluating daily how to respond to, and operate in, this environment. Read this statement from the Chairs of the AASB, AcSB and PSAB to learn how we are continuing our standard-setting operations during this unprecedented time.

The International Auditing and Assurance Standards Board (IAASB) issued its Consultation Paper, Extended External Reporting (EER) Assurance, which proposes non-authoritative guidance to support this evolving area of reporting. Comments are due to the IAASB on July 13, 2020.

This Annual Plan sets out the Board’s key activities and project milestones in 2020-2021, helping to achieve the objectives in the last year of its five-year strategic plan. Read the plan for full details.

How can companies provide a financial statement user with better information about business combinations? The IASB’s Discussion Paper: Business Combinations—Disclosures, Goodwill and Impairment investigates this through possible improvements to IFRS 3 Business Combinations and IAS 36 Impairment of Assets. Don’t have time to read the Discussion Paper? The IASB’s Snapshot provides an easy-to-understand overview of this paper that can help support you as you form your views on the proposals. Read it today!

The Board discussed topics such as IFRS Standards, employee future benefits, related party transaction, standards for pension plans, and its next strategic plan, among others. Read the Decision Summary for full details.

Part of the non-authoritative guidance that was removed from Part V on March 1, 2020 was Section 4250, Future Oriented Financial Information. This guidance continues to be relevant to private enterprise financial statement preparers and practitioners, so it will be retained in the Handbook. Read more about this update.

The Board discussed Agreed-upon Procedures, Quality Management, Public Sector Auditing Standards and its Draft Strategic Plan for 2022-2025, among other topics. It also approved its 2020-2021 Annual Plan. Read the Decision Summary for full details.

We are pleased to announce new members and re-appointed members, and thank those retiring, to both the Council and the AASB. See the appointments page for full details.

We are pleased to announce new members and re-appointed members, and thank those retiring, to the Council, the AcSB and PSAB. See the appointments page for full details.

The Board discussed topics such as contributions, ASPE implementation, and its next strategic plan, among others.