International Financial Reporting Standards (IFRSs)

WHAT'S NEW

AcSB Response – Classification and Measurement of Share-based Payment Transactions (Proposed amendments to IFRS 2)
April 28, 2015. The AcSB has submitted a comment letter responding to the IASB's Exposure Draft issued in November 2014.

AcSB Response – Disclosure Initiative (Proposed amendments to IAS 7)
April 28, 2015. The AcSB has submitted a comment letter responding to the IASB’s Exposure Draft issued in December 2014.

Video of Panel Discussion – IFRS and Global Standards: A Canadian Perspective
April 23, 2015. Watch the video of a panel discussion jointly hosted by the IFRS Foundation Trustees and AcSOC in Toronto. A director/preparer, auditor, financial statement user, regulator and standard setter provide their views on important issues, including adopting IFRSs in Canada, working with the IASB to support a global set of standards and convergence with U.S. GAAP.

IFRS Discussion Group Meeting Agenda – May 14, 2015
April 21, 2015. An agenda covering the topics for discussion is now available. Get more information about the meeting to be held in Toronto, including how to attend in person.

Speech by the IASB Chair – Financial Reporting Standards for the World Economy
April 16, 2015. Read the IASB Chair Hans Hoogervorst’s speech delivered in Toronto. He focuses on the mission of the IFRS Foundation and the IASB, provides an update on the progress being made towards global standards, and discusses two major projects on the IASB’s work plan that are highly relevant in Canada — revenue recognition and insurance accounting.

FYI Article – IFRS 15: The New Revenue Standard – Are You Ready?
April 2, 2015. This article discusses the IASB’s new standard on accounting for revenue and the more significant changes from current requirements. It also identifies a number of considerations for planning to implement the standard.

Volunteer Opportunity – IFRS Discussion Group
March 30, 2015.  The AcSB is currently seeking new members, with a preference for financial statement preparers, users and individuals from a mid-tier accounting and advisory firm. If you are interested, please submit a resumé by April 24, 2015.

FYI Article – IFRS 9: Finally…Much-needed Improvements to the Financial Instruments Standard.
March 27, 2015. This article discusses the key features of IFRS 9 and potential financial reporting impact.

AcSB Exposure Draft – Classification of Liabilities (Proposed amendments to IAS 1)
March 11, 2015. The AcSB has issued an Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Canadian stakeholders are encouraged to submit their comments, on the form provided, by June 10, 2015.

FYI Article – Narrow-scope Amendments: Improving IFRSs
March 4, 2015. This article explains what a narrow-scope amendment is and provides information on those issued and under development.

Webinar – IFRS and Global Standards: A Canadian Perspective
February 27, 2015. Tune in to this webinar on April 13, 2015 for a rare opportunity to hear from IASB Chair Hans Hoogervorst and Board member, Stephen Cooper. They will answer your questions about the work of the IASB to establish IFRSs and the role that Canada plays in influencing the development of international standards.

IFRS Discussion Group – Report on December 9, 2014 Meeting
February 25, 2015. Read the report for details about the Group’s discussions. Listen to the audio recordings to hear the Group’s full discussion.

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