IFRS® Standards

WHAT'S NEW

Keeping pace with progress – AcSB 2017-2018 Annual Report
June 27, 2018. Supporting IFRS® Standards implementation to advancing Part II and Part III projects, and continuing research on new types of pension obligations – we kept pace with progress and met our goals. Read about our 2017-2018 activities and accomplishments in our Annual Report, including new work helping to enhance the relevance of financial reporting.

Work with us! Seeking a new accounting standards principal
June 26, 2018. We are looking for a highly-skilled, enthusiastic, and committed accounting standards team member to advise and carry out the plans of the AcSB. Apply today!

Draft Framework for Reporting Performance Measures – Enhancing the relevance of financial reporting
June 14, 2018. The AcSB is stepping up to enhance the relevance of financial information for all entities – from public and private companies, to not-for-profit organizations and pensions plans. We need you to join the discussion and help improve financial and non-financial performance measures reported outside of financial statements. Read and comment by September 17, 2018.

Non-authoritative Material – Insurance Contracts
June 1, 2018. The Basis for Conclusions and Illustrative Examples issued by the IASB that accompany, but are not part of, IFRS 17 Insurance Contracts have been added to Part I of the CPA Canada Handbook – Accounting.

Reporting Performance Measures – Enhancing the Relevance of Financial Reporting
June 1, 2018. It’s time for leadership. The AcSB is stepping up to enhance the relevance of financial information for all entities by issuing a Draft Framework for Reporting Performance Measures. The Framework will be issued June 14, 2018 and needs your feedback! Read more about this important initiative and stay up to date.

AcSB Insurance Transition Resource Group Meeting Notes – April 25, 2018
May 24, 2018. Before the IASB® Transition Resource Group for IFRS 17 meeting on May 2, our Group met and discussed the same topics, including the contract boundary and the risk adjustment for non-financial risks in a group of entities. Our Group also considered submissions by Canadian stakeholders on the contract boundary for the premium allocation approach, and for reinsurance contracts.

IFRS® Discussion Group Meeting Agenda – June 21, 2018
May 24, 2018. Our first livestreamed meeting features an agenda packed with hot topics! The Group will discuss cannabis accounting, cryptocurrencies and topics related to the implementation of IFRS 9, IFRS 15 and IFRS 16. Register to attend as an in-person or virtual observer today!

Volunteer Opportunity – User Advisory Council
May 23, 2018. The AcSB is looking for new members from Canada’s East Coast for its User Advisory Council! Members advise and help us understand how users employ financial information. Get more details on who we’re looking for, what volunteering entails, and be sure to apply by June 30, 2018.

FEI Canada Annual Conference June 13-15, 2018 – Linda Mezon, AcSB Chair, to present
May 2, 2018. Attend Linda Mezon’s June 14, 2018 presentation, when she will officially launch the new Performance Measures Framework project! FEI Canada’s annual conference takes place June 13-15, 2018 in Halifax, NS. The event is a platform for senior financial leaders to network, exchange ideas, learn and find solutions to current challenges. We look forward to seeing you there!

New! AcSB Standard-setting Due Process Manual
April 20, 2018. Our revised due process manual provides you a clear explanation of our IFRS® Standards endorsement and domestic standard-setting activities. We use plain language, simplified content, and visuals, to ensure the rigorous set of procedures we undertake to set standards is easy for you to understand.

AcSB Exposure Draft – Accounting Policy Changes (Proposed amendments to IAS 8)
April 17,  2018. The AcSB has issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Stakeholders are encouraged to submit their comments by July 27, 2018.

Final Concepts – IASB® issues revised Conceptual Framework for Financial Reporting
April 9, 2018.  The IASB has issued a revised Conceptual Framework for Financial Reporting to replace the Conceptual Framework issued in 2010.  The revised Conceptual Framework is effective immediately for the IASB, and from January 1, 2020 for entities, with early application permitted.

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