Accounting Standards Board

About the AcSB

The Accounting Standards Board (AcSB) is an independent body with the authority to establish accounting standards for use by all Canadian entities outside the public sector. We serve the public interest by establishing standards for financial reporting by all Canadian private sector entities and by contributing to the development of internationally accepted financial reporting standards. 

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Just Released

The revised Framework for Reporting Performance Measures is out, just in time to support the next annual reporting cycle!

Upcoming meetings & events

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September 5-11, 2019 Virtual Roundtable Discussions – Stakeholders’ Views Sought on the Proposed Amendments to the New Insurance Standard September 5, 2019 – 1:00 - 3:00 pm ET                        September 11, 2019 – 1:00 - 3:00 pm ET

The AcSB is holding virtual roundtable discussions to seek input on the IASB’s Exposure Draft, “Amendments to IFRS 17.” Complete the registration form to attend one of the virtual roundtables and share your views!

September 10, 2019 Private Enterprise Advisory Committee Meeting – September 10, 2019 9:00 am – 4:00 pm ET Toronto, ON

September 17-18, 2019 AcSB Meeting – September 17-18, 2019 9:00 am - 5:00 pm ET Toronto, ON

Meeting & event summaries

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July 30, 2019 Not-for-Profit Advisory Committee Meeting Notes – July 30, 2019

At its recent meeting, the Committee discussed accounting for contributions and combinations, as well as research on the NFP sector, amendments to other frameworks, and the Public Sector Accounting Board’s (PSAB’s) Government NFP Strategy Consultation paper.

July 24, 2019 IFRS® Discussion Group Meeting Report - June 20, 2019

The Group discussed topics such as timing of applying agenda decisions and determining lease payments under IFRS 16. Read about the views expressed by Group members for helpful tips and to stay up to date on past issues such as accounting for cryptocurrencies.  

July 17, 2019 AcSB Decision Summary – July 17, 2019

The Board discussed topics such as IFRS® Standards, Agriculture, Combinations, and ASPE implementation questions, among others.


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August 16, 2019 News
AcSB Meeting Agenda – September 17-18, 2019

At its upcoming meeting the Board will consider matters regarding IFRS® Standards, standards for private enterprises, not-for-profit organizations, and due process, among others.

August 16, 2019 News
Volunteer Opportunity – Accounting Standards Board

AcSOC is looking for new AcSB members! Are you a financial statement user? Do you prepare financial statements using accounting standards for not-for-profit organizations? Then we want to hear from you. Submit your résumé by September 13, 2019 to apply to become a member.

August 6, 2019 News
IASB Exposure Draft – Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice Statement 2)

The IASB has issued an Exposure Draft proposing amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements. Canadian stakeholders are encouraged to submit their comments to the IASB by November 29, 2019.