Accounting Standards Board

At its upcoming meeting, the Group will discuss IAS 12: Accounting for Deferred Tax Assets under OECD Pillar Two GloBE Rules, IAS 36: Assessment of Cash Generating Units (CGUs) in a Production Facility with Multiple Production Lines When One of the Products Has a Declining Market Demand, and more. Don’t miss out on the latest IFRS news! Register now to observe our meeting via livestream.

Are you a Canadian private enterprise, not-for-profit organization, pension plan, an advisor to one, or a user of their financial statements? Register for our upcoming webinar to learn about current accounting standards projects and recent amendments in Parts II, III and IV of the CPA Canada Handbook – Accounting. Join us on May 15, 2024 (English) or May 16, 2024 (French).

Join the AcSB for a virtual roundtable on “Subsequent Measurement of Goodwill and Acquired Intangible Assets.” Share your feedback to inform future exposure draft proposals on providing relief from recognizing intangible assets acquired in business combinations and allowing goodwill amortization for private enterprises and not-for-profit organizations. Register now to save your spot!

The AcSB discussed Financial Instruments with Characteristics of Equity, Climate-related Risks and Opportunities, Subsequent Measurement of Goodwill and Acquired Intangible Assets, Contributions, the Guidance Framework and more. Read the Decision Summary for full details.

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

The Committee held a meeting on February 7, 2024, and discussed revenue – upfront non-refundable fees or payments, financial statement concepts, climate-related risks and opportunities, and more. Read the meeting notes for full details!

Read our overview of the IASB’s Exposure Draft “Business Combinations – Disclosures, Goodwill and Impairment,” and how it impacts your business. The proposed amendments affect how entities perform their goodwill impairment assessments and enhance disclosure requirements for business combinations. 

The AcSB invites you to share your input on its Subsequent Measurement of Goodwill and Acquired Intangible Assets project to address challenges faced by private enterprises and not-for-profit organizations.

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.