Decision Summary February 16, 2017

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 AcSB. Decisions to publish Handbook material are final only after a formal ballot process.

International Financial Reporting Standards

Accounting Standards Advisory Forum

AcSB members advised the Chair on points to raise at the March 2017 meeting of the Accounting Standards Advisory Forum on topics to be discussed at the meeting. The topics included the definition of a business, dynamic risk management, financial instruments with characteristics of equity and symmetric prepayment options (see the Forum’s Agenda Papers 2, 2A, 5, 5A, 6, and 7).

Standards for Private Enterprises


The AcSB appointed the AcSB’s Vice-Chair, Karen Higgins, as the Chair of its new Agriculture Advisory Group.  The AcSB also approved the Group’s Terms of Reference and discussed its Statement of Operating Procedures. The AcSB authorized the submission of both documents to the Group for its input prior to the AcSB’s final approval in the case of the Terms of Reference, and ratification in the case of the Statement of Operating Procedures.

Due Process and Governance

AcSB Due Process

The AcSB approved a report to the Accounting Standards Oversight Council on due process compliance matters.

AcSB Planning and Performance

The AcSB received feedback from the AcSB Chair and staff on the review of the AcSB’s draft interim performance report for the current operating year and draft annual plan for the 2017-2018 operating year by the Accounting Standards Oversight Council’s Performance Review Committee. These documents will be presented to the Council in accordance with the AcSB’s governance procedures.  The AcSB expects to approve its annual plan in March 2017 and its performance report in May 2017, after considering the Council’s input.

AcSB’s User Advisory Council

The AcSB appointed its member, Lara Gaede, as the Chair of its User Advisory Council, effective immediately.

Note: All of the AcSB’s responses to documents for comment issued by the IASB and the IFRS Interpretations Committee are available on the IASB’s website at