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.
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Standards for Private Enterprises
Retractable or Mandatorily Redeemable Shares Issued in a Tax Planning Arrangement (ROMRs) Project Summary
The AcSB discussed the ROMRS Post-implementation Review project summary. The Board emphasized that it will continue to consider previously identified ROMRS application issues, as well as any new issues, through the AcSB’s Guidance Framework. The Board also noted that it will monitor issues related to ROMRS that fall beyond the scope of the ROMRS amendments, including those submitted through its Detailed Review of ASPE Consultation Paper.
The AcSB approved the ROMRS project summary subject to edits agreed to during the meeting.
Standards for Private Enterprises and Not-for-Profit Organizations
Financial Statement Concepts
The AcSB discussed feedback from its Medium and Small Practitioners Advisory Committee, Not-for-Profit Advisory Committee, and Private Enterprise Advisory Committee on a draft updated Conceptual Framework for Part II of the CPA Canada Handbook – Accounting Standards for Private Enterprises and Part III of the CPA Canada Handbook – Accounting Standards for Not-for-Profit Organizations. The Board decided to incorporate the draft proposals into a future exposure draft as part of its Financial Statement Concepts project.
The AcSB agreed with advisory committee feedback that it is important to emphasize that the updated Conceptual Framework would not be intended to impact the existing recognition, measurement, or disclosure requirements in Part II and or Part III of the Handbook, or related Accounting Guidelines.
For more information on the Financial Statement Concepts project, read “What You Need to Know about Financial Statement Concepts.”
Standards for Pension Plans
Guidance Framework: Part IV/IFRS 18
The AcSB discussed an issue raised as to whether the new standard IFRS 18 Presentation and Disclosure of Financial Statements will result in a requirement for pension plans that apply Part IV – Accounting Standards for Pension Plans, to disclose management-defined performance measures.
The AcSB decided to seek feedback from its Pension Plan Advisory Committee at their January 2026 meeting. The Board will discuss the Committee’s feedback at its March 2026 meeting.
Part IV Agenda Consultation
The AcSB considered feedback from its Part IV Work Plan Survey. The Board used this survey consultation to identify priorities for its new work plan related to Accounting Standards for Pension Plans.
The AcSB will seek input from its Pension Plan Advisory Committee at their January 2026 meeting on the survey results. As part of its annual planning process, the Board will then decide which activities to undertake in 2026-2027.
Governance
AcSB’s Annual Plan
The AcSB had a preliminary discussion on its priorities for the 2026-2027 fiscal year, which included considering:
The AcSB will evaluate its work plan in the coming months and make decisions on activities to undertake in 2026-2027.
The AcSB also discussed an initial draft of its annual plan for the fiscal year beginning on April 1, 2026, and will present it to the Reporting & Assurance Standards Oversight Council (RASOC) in February 2026. The Board plans to approve its annual plan in March 2026, after considering RASOC’s input.
AcSB’s Performance Report
The AcSB discussed a draft of its performance report for the 2025-2026 fiscal year. This draft report will be presented to RASOC at its February 2026 meeting for an annual interim assessment. The Board expects to approve its final performance report in April 2026 for presentation to RASOC in June.
Due Process
AcSB’s Advisory Committees and Working Groups
Private Enterprise Advisory Committee
The AcSB received an update on the December 4, 2025, Private Enterprise Advisory Committee meeting. At this meeting, the Committee discussed the Strategic Plan and provided input on the Board’s strategic direction for Part II of the Handbook and other priorities for the upcoming year.
Medium and Small Practitioners Advisory Committee
The AcSB received an update on the December 8, 2025, Medium and Small Practitioners Advisory Committee meeting. At this meeting, the Committee provided input on the Strategic Plan, as well as what priorities should be considered in the annual plan for the next fiscal year.
IFRS® Accounting Standards Discussion Group
The AcSB received an update on the December 9, 2025, IFRS® Accounting Standards Discussion Group meeting. At this meeting, the Group discussed year-end financial reporting reminders and IFRS 18: Classification of income and expenses that arise from liabilities.
Not-For-Profit Advisory Committee
The AcSB received an update on the December 10, 2025, Not-for-Profit Advisory Committee meeting. At this meeting, the Committee discussed Contributions, Reporting Controlled and Related Entities, input on the Strategic Plan for Part III of the Handbook, and other priorities to consider for the upcoming fiscal year.