This summary of Accounting Standards Board (AcSB) decisions has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussion on projects, which may change after further deliberations by the Board. Decisions to publish Handbook material are final only after a formal ballot process.
The AcSB will respond to change and reprioritize when necessary, ensuring we can address implementation challenges and provide the information users may need in these unique circumstances.
The AcSB values input and feedback from interested and affected parties and can be reached anytime through our online form.
IFRS® Accounting Standards
Amendments to the Fair Value Option (IAS 28)
The AcSB discussed its draft response letter to the International Accounting Standards Board’s (IASB) Exposure Draft “Amendments to the Fair Value Option for Investments in Associates and Joint Ventures.” Responses are due to the IASB by April 20, 2026. In developing its response, the AcSB considered feedback from its IFRS Accounting Standards Discussion Group, Insurance Transition Resource Group, and User Advisory Committee. The AcSB delegated final edits and approval of the response letter to the Chair.
The AcSB’s response is posted on the IASB’s website.
Standards for Private Enterprises
Guidance Framework – Cloud Computing
The AcSB continued its discussion on an application question regarding the disclosure requirements in Accounting Guideline (AcG) 20, Customer’s Accounting for Cloud Computing Arrangements in Part II of the CPA Canada Handbook – Accounting Standards for Private Enterprises.
The submitter asked how paragraphs 35(b) and 36(b)(i) of AcG 20 should apply to disclosing cloud computing costs recognized as an expense in a period. Specifically, they asked whether these disclosures are intended to include all cloud computing costs expensed during the period or only implementation-related costs.
The AcSB agreed that paragraphs 35(b) and 36(b)(i) of AcG 20 require disclosure of all amounts expensed during the period when an entity applies the simplification approach in AcG 20, and all software service costs recognized as an expense during the period. The Board discussed that, consistent with Financial Statement Concepts, paragraphs 1000.14 and 1001.14, preparers should apply professional judgment in assessing the materiality of this information and whether omitting it would influence or change the decisions of financial statement users.
Guidance Framework – Private Equity Funds
The AcSB discussed and considered input from its Private Enterprise Advisory Committee on an application question raised regarding the measurement of investments in private equity investment funds under Section 3856, Financial Instruments in Part II of the Handbook.
The submitter asked whether units of a private equity fund would meet the criteria to be considered “quoted in an active market” under Section 3856. They also asked whether the quoted unit prices or the fund’s net asset value could be used as a measure of fair value of the investment if those criteria are met or if an entity elects to measure the units at fair value in accordance with paragraph 3856.13.
Based on the Committee’s feedback, the AcSB concluded that the Guidance Framework criteria have been met. The Board tentatively decided to explore issuing a non-authoritative resource on the topic and will continue discussions at a future meeting.
Standards for Not-for-Profit Organizations
Contributions
The AcSB continued discussions on proposals for an exposure draft for the Contributions – Revenue Recognition and Related Matters project specific to presentation and disclosure requirements.
The AcSB tentatively decided to retain the majority of the existing presentation and disclosure requirements in Section 4400, Financial Statement Presentation by Not-for-Profit Organizations, and Section 4410, Contributions – Revenue Recognition. The Board also tentatively decided to propose additional presentation and disclosure requirements related to:
- dependence on contributions from another party;
- capital asset contributions;
- contributed materials and services not recognized;
- contributions not yet recognized as revenue;
- funds presented; and
- endowment contributions.
The AcSB also reviewed parts of an initial draft of the proposed new standard for recognition of contributions. The Board expects to release the exposure draft in the second half of 2026.
Governance
AcSB Member and Volunteer Survey Results
The AcSB discussed the results of the Board members’ 2025-2026 self-assessment and other volunteers’ performance surveys on the Board’s committees and groups. The Board discussed next steps to address the areas of significant feedback.
AcSB’s Performance Report and Annual Report
The AcSB approved its performance report for the fiscal year ended March 31, 2026, for presentation to the Reporting and Assurance Standards Oversight Council in June 2026. The Oversight Council will use this report to assess the Board’s performance for the 2025-2026 operating year.
The AcSB also approved its annual report for the fiscal year ended March 31, 2026, and plans to issue it in June 2026.
AcSB’s Strategic Plan
The AcSB approved its draft strategic plan after considering the Reporting and Assurance Standards Oversight Council’s input. The Board expects to issue its consultation paper, “Advancing Accounting Standards Together Draft Strategic Plan 2027-2032," in May 2026, with a comment period ending in September 2026.