AcSB Meeting – September 17-18, 2019

Meeting Details


September 17-18, 2019


9:00 am - 5:00 pm ET


CPA Canada
277 Wellington Street West
Toronto ON M5V 3H2

Staff Contact(s)

Ingrid McDonald, CPA, CA

Senior Principal, Accounting Standards Board

The topics the Accounting Standards Board (AcSB) plans to discuss, in addition to routine updates, and anticipated actions, if any, are outlined below. Although current at the date prepared (July 29, 2019), this agenda is subject to change.

IFRS® Standards

Insurance Contracts

  • Discuss the Board’s draft response letter to the International Accounting Standards Board's Exposure Draft on proposed amendments to IFRS 17 Insurance Contracts.
  • Information session with representatives of the Canadian Institute of Actuaries (CIA) on the CIA’s role in the implementation of IFRS 17.
  • Information session on the status of system solutions in Canada for the implementation of IFRS 17.

Implementation of IFRS Standards 

  • Discuss an analysis of the impact of the implementation of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers on 2018 annual reports, and IFRS 16 Leases on 2019 first quarter interim financial statements.


  • Receive an update on recent domestic and international discussions related to cryptoassets and consider next steps.

Standards for Private Enterprises and Not-for-Profit Organizations

Amendments to Other Frameworks

  • Decide on whether amendments to other accounting frameworks are relevant to Part II and Part III and have merit to be considered as future Part II and Part III projects.

Financial Statement Concepts

  • Receive an update on the project to date and decide on next steps.


  • Consider a summary of the comment letters received on the AcSB’s Exposure Draft, Revenue, discuss feedback received from the Board’s Private Enterprise Advisory Committee, and begin discussing the issues.

Standards for Private Enterprises 

Implementation of Accounting Standards for Private Enterprise (ASPE)

  • Consider issues raised by the Board’s Private Enterprises Advisory Committee and other stakeholders on the implementation of accounting standards for private enterprises and decide on next steps.

Standards for Not-for-Profit Organizations


  • Discuss the updated exposure draft, basis for conclusions, and the results from field testing performed on the criteria for determining whether the combination transaction should be considered an acquisition or a merger.
  • Consider feedback provided by the Board’s Not-for-Profit Advisory Committee on the results of the field testing, sweep issues, consequential amendments, and exposure draft questions.


  • Discuss an updated draft of the consultation paper, including example financial statements to be included in the consultation paper.
  • Consider feedback from the Board’s Not-for-Profit Advisory Committee on the draft of the consultation paper.

Standards for Pension Plans

  • Discuss the outreach plan to understand issues arising on the application of Section 4600, Pension Plans, in Part IV of the CPA Canada Handbook – Accounting. 

Due Process

  • Receive feedback on recent meetings of the Board’s Private Enterprise Advisory Committee and Not-for-Profit Advisory Committee.
  • Preliminary discussion of potential key themes to consider in the planning for the development of the AcSB’s next Strategic Plan.
  • Approve a proposed update to the Accounting Standards Oversight Council on the AcSB’s application of due process.