News Listings

The AcSB issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. If you would like your feedback considered prior to our Board finalizing our comment letter, please respond by June 14, 2024. 

The IASB’s recently released Exposure Draft, “Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard,” supplements the Exposure Draft published in September 2022. We encourage you to respond directly to the IASB by July 31, 2024, to help shape accounting standards for SMEs.

The IASB’s newly issued IFRS Accounting Standard, IFRS 18 Presentation and Disclosure in Financial Statements, aims to improve the usefulness of information presented and disclosed in financial statements. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB will ballot IFRS 18 and complete its endorsement process in Q2 2024. Find out more. 

On March 28, 2024, the AcSB responded to the IASB’s Exposure Draft, “Financial Instruments with Characteristics of Equity,” issued in November 2023. The AcSB’s letter expressed overall support for the proposed disclosure and financial statement presentation requirements but noted that the classification and measurement proposals do not achieve the IASB’s objectives for the project. Read our letter to find out more! This letter is posted on an external website; if you need an accessible version, please email us at [email protected]. 

Read our overview of the IASB’s Exposure Draft “Business Combinations – Disclosures, Goodwill and Impairment,” and how it impacts your business. The proposed amendments affect how entities perform their goodwill impairment assessments and enhance disclosure requirements for business combinations. 

The AcSB invites you to share your input on its Subsequent Measurement of Goodwill and Acquired Intangible Assets project to address challenges faced by private enterprises and not-for-profit organizations.

The AcSB discussed Financial Instruments with Characteristics of Equity, Climate-related Risks and Opportunities, Subsequent Measurement of Goodwill and Acquired Intangible Assets, Contributions, the Guidance Framework and more. Read the Decision Summary for full details.

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.   

AcSOC is pleased to announce the appointments and reappointments for the AcSB and PSAB. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.

Focused on meeting the evolving needs of Canadians, the AcSB’s core strategies will continue to enhance the relevance of financial and non-financial reporting information. We will advance multiple projects in our workplan including implementing a framework to respond to requests for additional guidance, conducting a review of ASPE, and researching emerging areas. Read our Annual Plan to understand how we plan to deliver on these priorities.