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AASOC is pleased to announce new members and reappointed members. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.

Representatives of the UKEB and AcSB held a bilateral meeting on March 26, 2024, in London. The Boards shared updates on their respective activities and discussed topics like rate-regulated activities, IFRS 18, IFRS 19 and carbon credits. The discussions were a helpful step towards developing a bilateral understanding of the challenges facing the two boards and finding areas of common interest. 

This year, PSAB will continue to develop relevant, high-quality accounting standards for use in the public sector. This includes advancing key projects like Intangible Assets and Employee Benefits, as well as the Government Not-for-Profit-related Tangible Assets and Contributions projects. As we continue to drive our key strategies forward, holding regular Indigenous Advisory Group and Technical Advisory Group meetings are priorities for our Board. Read more about next steps in our Plan, including how we will share the Canadian public sector perspective to support global and forward-looking initiatives.

As we approach the conclusion of the AASB’s 2022-2025 Strategic Plan, we continue to recognize the changing environment and the diverse needs of our community. Our 2024-2025 Annual Plan highlights our commitment to developing high-quality standards and supporting their effective application. We continue to engage in consultations and advance our projects, including Fraud, Compilations of Future-oriented Financial Information, and Sustainability Assurance. Read the Annual Plan for a full breakdown of how we will continue to serve the public interest in the coming year.

Focused on meeting the evolving needs of Canadians, the AcSB’s core strategies will continue to enhance the relevance of financial and non-financial reporting information. We will advance multiple projects in our workplan including implementing a framework to respond to requests for additional guidance, conducting a review of ASPE, and researching emerging areas. Read our Annual Plan to understand how we plan to deliver on these priorities.

Have you encountered any issues while applying PSAB’s Section PS 3430, Restructuring Transactions? If so, we want to hear from you! Answer our short question to tell us more.

PSAB discussed topics including Intangible Assets, post-implementation review assessment, “Employee Benefits, Proposed Section 3251,” International Public Sector Accounting Standards Board’s (IPSASB) “Strategy and Work Program 2024-2028: Consultation,” and more. Read the Decision Summary for full details.

The IASB has published an Exposure Draft, “Business Combinations – Disclosures, Goodwill and Impairment,” which proposes amendments to IFRS 3 Business Combinations and IAS 36 Impairment of Assets. Respond directly to the IASB with your feedback by July 15, 2024. In addition, stay tuned for opportunities to participate in our consultation activities, and help inform our response to the IASB.

The Canadian Sustainability Standards Board (CSSB) wants your feedback on its Exposure Draft, CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information. Read our Exposure Draft and submit your comments to have your say in the adoption of sustainability disclosure standards in Canada. We welcome feedback until June 10, 2024.

The Canadian Sustainability Standards Board (CSSB) wants your feedback on its Exposure Draft, CSDS 2, Climate-related Disclosures. The Standard includes proposed requirements for disclosing climate-related risks and opportunities. Read our Exposure Draft and submit your comments to have your say in the adoption of sustainability disclosure standards in Canada. We welcome feedback until June 10, 2024.