AcSB

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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Report Quality Performance Measures

Learn about best practices for preparing non-GAAP and operational measures in the AcSB's Framework for Reporting Performance Measures!

Upcoming meetings & events

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April 14 - May 6, 2020 Virtual Roundtable Discussions – Stakeholder Views Sought on IFRS® Standards Exposure Draft, General Presentation and Disclosures April 14, 2020 – 2:00pm to 4:00pm EST (French) April 21, 2020 – 2:00pm to 4:00pm EST (English) May 6, 2020 – 1:00pm to 3:00pm EST (English)

Attend a virtual roundtable between April and May 2020 to provide your feedback on the IASB’s Exposure Draft, General Presentation and Disclosures. This is your chance to share your views directly with the AcSB! A French-language option is also available.

April 15, 2020 AcSB Meeting – April 15, 2020 Toronto, ON

Stay tuned for details!

April 16, 2020 Academic Advisory Committee Meeting – April 16, 2020 9:00 am – 4:00 pm ET Toronto, ON

Stay tuned for details!

Meeting & event summaries

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March 3-4, 2020 AcSB Decision Summary – March 3-4, 2020

The Board discussed topics such as IFRS Standards, employee future benefits, related party transaction, standards for pension plans, and its next strategic plan, among others. Read the Decision Summary for full details.

February 25, 2020 Private Enterprise Advisory Committee Notes – February 25, 2020

At its recent meeting, the Committee discussed a number of application issues in practice and comments on the Employee Future Benefits Exposure Draft.

February 18, 2020 AcSB Decision Summary – February 18, 2020

The Board discussed topics such as contributions, ASPE implementation, and its next strategic plan, among others.

News

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March 19, 2020 News
IASB votes to defer the effective date of IFRS 17 by two years

The IASB voted to defer the effective date of IFRS 17 to annual reporting periods beginning on or after January 1, 2023. It also voted to extend the temporary exemption of applying IFRS 9 by two years to keep the effective dates aligned. The AcSB welcomes these decisions as they support achieving a common global adoption date. The AcSB encourages Canadian stakeholders to continue with their implementation efforts to ensure a high-quality implementation of IFRS 17.

March 10, 2020 News
Handbook Update – Section 4250, Future Oriented Financial Information to be retained 

Part of the non-authoritative guidance that was removed from Part V on March 1, 2020 was Section 4250, Future Oriented Financial Information. This guidance continues to be relevant to private enterprise financial statement preparers and practitioners, so it will be retained in the Handbook. Read more about this update.

March 9, 2020 News
Appointments - AcSOC, the AcSB and PSAB

We are pleased to announce new members and re-appointed members, and thank those retiring, to the Council, the AcSB and PSAB. See the appointments page for full details.