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
Business Combinations Research
The AcSB received an update on its research project examining potential conflicts between achieving the objective of IFRS 3 Business Combinations at the acquisition date and the usefulness of information in the post-combination period. The Board agreed to further develop this research to assess the decision usefulness of information resulting from asset acquisitions compared with business combinations. The Board intends to use the findings to inform future international discussions and its response to the International Accounting Standards Board's (IASB) Fourth Agenda Consultation.
Standards for Private Enterprises and Not-for-Profit Organizations
Financial Statement Concepts
The AcSB discussed a draft of its exposure draft for its Financial Statement Concepts project. The exposure draft proposes a new 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 plans to issue an exposure draft in 2027.
For more information on the Financial Statement Concepts project, read “What You Need to Know about Financial Statement Concepts.”
Standards for Not-for-Profit Organizations
Contributions
The AcSB continued discussions on the proposals to be included in an exposure draft for the Contributions – Revenue Recognition and Related Matters project related to:
- pledges receivable;
- capital asset contributions; and
- consequential amendments.
The AcSB tentatively decided not to provide separate guidance on pledges receivable and instead specify the unit of account in the contribution revenue recognition guidance. The Board also tentatively decided to clarify that, when the contributor specifies that a portion of a restricted contribution be used to acquire, construct, or develop capital assets, only the amount specified is recognized as a capital asset contribution.
In addition, the AcSB tentatively decided to propose a consequential amendment to Section 1501, First-time adoption by Not-for-Profit Organizations, to allow a first-time adopter to apply the transition provisions proposed in the new contributions standard.
The AcSB also reviewed parts of an initial draft of the proposed new standard for recognition of contributions, transition requirements, and illustrative examples that will be included in the exposure draft. The Board plans to issue the exposure draft in the second half of 2026.
Reporting Controlled and Related Entities
The AcSB reviewed a revised draft of its consultation paper for the Improvements to Section 4450 Reporting Controlled and Related Entities by Not-for-Profit Organizations project. The consultation paper will discuss a new approach to accounting for:
- control relationships with not-for-profit organizations (NFPOs);
- significant influence relationships with NFPOs; and
- relationships between an NFPO and profit-oriented enterprises.
The consultation paper will also discuss possible disclosure improvements regarding relationships with controlled and related entities.
The AcSB also discussed a communications and outreach plan for its consultation paper. The consultation paper is expected to be released in the second half of 2026.
Due Process
AcSB’s Advisory Committees and Working Groups
Not-for-Profit Advisory Committee
The AcSB received an update on the April 16, 2026, Not-for-Profit Advisory Committee meeting. At its meeting, the Committee discussed the Contributions project – specifically, the proposed effective date and transition guidance, including two proposed transition illustrative examples and solutions.
IFRS® Accounting Standards Discussion Group
The AcSB received an update on the May 12, 2026, IFRS Accounting Standards Discussion Group meeting. At its meeting, the Group provided feedback on the IASB’s upcoming post-implementation review of the hedge accounting requirements in IFRS 9 Financial Instruments. The Group discussed the implications of recent tentative agenda decisions issued by the IFRS Interpretations Committee on the application of IFRS 18 Presentation and Disclosure in Financial Statements, including: Classification of Gains and Losses on a Derivative Managing a Foreign Currency Exposure, Scope of the Requirement to Disclose Expenses by Nature, and Presentation of Taxes or Other Charges that Are Not Income Taxes within the Scope of IAS 12 Income Taxes. The Group also discussed financial reporting considerations arising from current global economic and geopolitical developments, including the impacts of tariffs and tariff refunds, geopolitical conflicts, and related volatility in commodity prices and broader economic impacts. The Group continued discussions on factors an entity might consider when determining whether a reported metric qualifies as management-defined performance measures under IFRS 18.
Private Enterprise Advisory Committee
The AcSB received an update on the May 13, 2026, Private Enterprise Advisory Committee meeting. At its meeting, the Committee was given an overview of the feedback received on the Exposure Draft, “Relief from Recognition of Acquired Intangible Assets and Amortization of Goodwill,” and provided input on certain issues identified in the feedback to the Exposure Draft. The Committee then discussed the Board’s proposed issues included in the 2026-2027 Package of Minor Amendments project, and a potential narrow-scope amendment to Section 3856, Financial Instrument, part of the Derecognition of Financial Liabilities project. The Committee also discussed a Guidance Framework question regarding the acquisition of a pharmacy and related intangible assets.