As part of the
AcSB’s 2022-2027 Strategic Plan, the Board committed to exploring scaling the standards for non-listed entities to better meet the different reporting needs of the wide variety of entities that apply domestic accounting standards in Canada. The AcSB issued
Consultation Paper I – Exploring Scalability in Canada in March 2023 to gather broad input on key issues and potential solutions related to scaling the standards.
During outreach, the AcSB consistently heard that several standards in Part II of the CPA Canada Handbook – Accounting are either complex to apply or result in information that is not useful to financial statement users.
Based on this feedback, the AcSB decided to conduct a detailed review of Accounting Standards for Private Enterprises (ASPE) to identify the requirements that are most complex to apply and propose practical solutions. This project aims to increase the understandability and accessibility of the standards for all entities, but it does not intend or expect to address or fix every issue with each standard.