AcSB Decision Summary – April 9, 2019

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.

IFRS® Standards

Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets

The AcSB discussed the draft response letter to the International Accounting Standard Board’s (IASB) Exposure Draft “Onerous Contracts – Cost of Fulfilling a Contract.” The Board directed the staff to make amendments based on its comments. The Board’s final response letter will be sent to the IASB by the April 15, 2019, deadline.

Due Process

AcSB’s 2018-2019 Performance Report

The AcSB approved its performance report for the operating year ended on March 31, 2019, after considering input from the Accounting Standards Oversight Council’s (AcSOC) Performance Review Committee. AcSOC will receive this report in June 2019 to assess the Board’s performance for the 2018-2019 operating year.

AcSB’s 2018-2019 Annual Report

The AcSB approved its 2018-2019 Annual Report, which it plans to issue on May 1, 2019.