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.
Standards for Private Enterprises
Detailed Review of Accounting Standards for Private Enterprises (ASPE)
The AcSB reviewed a revised draft of its consultation paper for the Detailed Review of ASPE project. This version incorporated feedback from the March 2025 Board meeting and topics discussed with the Board and its Advisory Committees.
The remaining topics for inclusion in the consultation paper will be discussed at the May 2025 meetings of the Private Enterprise Advisory Committee and the Medium and Small Practitioners Advisory Committee. These topics will be incorporated into the draft that will be presented to the AcSB at its June meeting. At that time, the Board will review the near-final draft and the proposed outreach plan. The consultation paper is expected to be released in Q3 2025.
Related Party Combinations
The AcSB completed its deliberations on comments received on the Exposure Draft, “Accounting for Common Control Combinations.” The Board also reviewed the revised amendments and Basis for Conclusions, reflecting decisions made at its March 2025 meeting.
The AcSB approved the issuance of the amendments to Section 3840, Related Party Transactions in Part II of the CPA Canada Handbook – ASPE, subject to drafting and its formal ballot process. The Board plans to issue the amendments in September 2025.
Due Process
AcSB’s Advisory Committees and Working Groups
Private Enterprise Advisory Committee
The AcSB received an update on the May 8, 2025, Private Enterprise Advisory Committee meeting. At its meeting, the Committee discussed the Detailed Review of ASPE, Financial Statement Concepts, the post-implementation review assessment related to retractable or mandatorily redeemable shares, and more.
Not-for-Profit Advisory Committee
The AcSB received an update on the May 6, 2025, Not-for-Profit Advisory Committee meeting. At its meeting, the Committee discussed Contributions, Financial Statement Concepts, and more.