Top Stories

AcSOC is pleased to announce the appointments and reappointments for the AcSB and PSAB. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.

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.

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.

The CSSB has issued two Exposure Drafts, “CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information,” and “CSDS 2, Climate-related Disclosures.” This webpage provides a plain and simple overview of the Exposure Drafts and ways you can provide your input.

Canada’s first proposed Canadian Sustainability Disclosure Standards (CSDS) are out for public comment until June 10, 2024. Exposure Drafts on CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information, and CSDS 2, Climate-related Disclosures align with the 2023-released IFRS S1 and S2 global baselines, with modifications introduced to align with Canadian-specific needs. Also out for comment is a paper discussing how the CSSB proposes to introduce changes, if required, to IFRS Sustainability Disclosure Standards for use in Canada. The Board will be offering a variety of ways to take part in the consultation, ensuring a wide range of perspectives are considered before finalizing the proposals.

The Not-for-Profit Advisory Committee discussed Contributions, financial statement concepts, Revenue, guidance, and more. Read the meeting notes for full details.

Watch these on-demand webinars for an overview of PSAB’s new Conceptual Framework and Reporting Model, including how you can start preparing for implementation.

The Accounting Standards Oversight Council met on February 27, 2024, to discuss the Public Sector Accounting Board’s and the Accounting Standard Board’s activities and related matters. Read the full report for more information.

The AcSB discussed Business Combinations, Cash Flow Reporting, recommendations from the IFRS® Accounting Standards Discussion Group, its Guidance Framework, and more. Read the Decision Summary for full details, including how you can provide feedback on these initiatives.

The Canadian Sustainability Standards Board (CSSB) will launch a public consultation to advance the adoption of sustainability standards in Canada. In March 2024, three key documents will be issued for public comment that will shape Canada's first sustainability standards: drafts of the proposed CSDS 1 and CSDS 2, and a paper discussing how the CSSB proposes to introduce changes to IFRS Sustainability Disclosure Standards for use in Canada. We will offer opportunities to share feedback in a variety of ways.