Upcoming IFRS Discussion Group Meeting

Meetings are open to the public and recorded, but portions may be held in camera at the discretion of the Chair.

Date: May 30, 2017 – 9:30 am to 2:30 pm
Location: Chartered Professional Accountants of Canada
Ontario Room (9th Floor)
277 Wellington Street West
Toronto ON  M5V 3H2
Public Observation: Complete the Observer Registration Form
Read the Guidelines for Observers 


The topics the IFRS Discussion Group plans to consider, in addition to routine updates, are outlined below. Although current at the date prepared (April 26, 2017), this agenda is subject to change. The topics presented below may be discussed by the Group in a different order.

Cap and Trade Program

  • Consider how the cap and trade program works in Ontario and the potential accounting implications. 

IAS 36: Goodwill Impairment Test

  • Discuss the application of paragraph 99 of IAS 36 Impairment of Assets and consider when, and for how long, an entity could use the preceding period’s assessment of goodwill impairment.

IFRS 15: Purchase Returns

  • Discuss how purchase returns are considered under IFRS 15 Revenue from Contracts with Customers.

IFRS 9, IFRS 15 and IAS 16: Asset Sale with Variable Consideration

  • Consider the accounting for variable consideration receivable in an asset sale under IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers, and IAS 16 Property, Plant and Equipment.

IFRS 16 and IAS 34: Variable Lease Payments

  • Consider the interplay between IFRS 16 Leases and IAS 34 Interim Financial Reporting when accounting for variable lease payments in interim financial statements.

IFRS 16: Easements

  • Discuss whether easements are within the scope of IFRS 16 Leases.

IFRS 9: Matters for Non-Financial Entities

  • Discuss matters that non-financial entities should think about when implementing IFRS 9 Financial Instruments (for example, considerations when applying the solely payments of principal and interest test and the simplified approach for impairment).

IFRS 9: Modifications or Exchanges of Financial Liabilities that do not Result in Derecognition

  • Consider the effect on transition to IFRS 9 Financial Instruments as a result of the IFRS Interpretations Committee’s discussion on modifications or exchanges of financial liabilities that do not result in derecognition.

IAS 12: Interest and Penalties Related to Income Taxes

  • Consider the key points of the IFRS Interpretations Committee’s discussion on the accounting for interest and penalties related to income taxes and the implications, if any, on current practice.  


Davina Tam, CPA, CA
Principal, Accounting Standards Board
Phone: +1 (416) 204-3514
Email: dtam@cpacanada.ca