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News Listings


September 18, 2023

Document for Comment, International Activity, News

IASB Exposure Draft – Annual Improvements to IFRS® Accounting Standards – Volume 11

The IASB has published an Exposure Draft proposing amendments to IFRS Accounting Standards as part of its annual improvements process. Respond with your feedback by December 11, 2023.

September 5, 2023


AcSB Response – ISSB Consultation on Agenda Priorities

On August 25, 2023, the AcSB responded to the ISSB’s Request for Information, “Consultation on Agenda Priorities.” We strongly encourage the ISSB to focus its time over the next two years on the implementation of its inaugural standards, IFRS S1 and S2. We further emphasize continuing to prioritize work that ensures connectivity between financial and sustainability reporting requirements, and the interoperability of ISSB requirements with other sustainability standards. Read our letter for more on the matters we raised to the ISSB for further consideration.

August 31, 2023


Top 5 FAQs – Independent Review Committee on Standard Setting in Canada Final Report Recommendations

Read these top 5 frequently asked questions as both a reminder and update in advance of coming decisions related to the IRCSS’ Final Report – decisions that will pave the way forward for standard setting in Canada for years to come.

August 22, 2023

International Activity, News

Update – IASB issues amendments to IAS 21

The IASB issued amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates that require entities to provide more useful information in their financial statements when a currency cannot be exchanged into another currency. The AcSB will ballot the final amendments and complete its endorsement process in Q4 2023.

August 15, 2023

Resource, Other

Section 3465, Income Taxes – International Tax Reform – Pillar Two Model Rules

Read our In Brief on Section 3465, Income Taxes – International Tax Reform – Pillar Two Model Rules. We discuss how entities that apply Part II may be impacted by the Pillar Two Model rules issued by the Organisation for Economic Development (OECD).

July 26, 2023

Meeting Summary, Webpage

Private Enterprise Advisory Committee Notes – July 26, 2023

The Committee held a meeting on July 26, 2023, and discussed Insurance Contracts with Cash Surrender Value, Upfront Non-refundable Fees or Payments, Scaling the Standards, and more. Read the meeting notes for full details!

July 25, 2023

International Activity

AcSB Response – Amendments to the Classification and Measurement of Financial Instruments Exposure Draft

On July 17, 2023, the AcSB responded to the IASB Exposure Draft, “Amendments to the Classification and Measurement of Financial Instruments.” In our response letter, we were broadly supportive of the amendments outlined in the Exposure Draft. However, we recommended that the IASB clarify or provide additional application guidance for several of its proposals and give additional flexibility on the proposed criteria associated with the derecognition of financial liabilities paid using an electronic payment system. Read our letter for more on the matters we raised to the IASB for further consideration.

July 25, 2023

Meeting Summary

Not-for-Profit Advisory Committee Meeting Notes – July 25, 2023

The Committee discussed Contributions, Reporting Controlled and Related Entities, Scaling the Standards, and more. Read the meeting notes for full details.

July 25, 2023


Crypto-asset Research and Resources

The AcSB is performing research to better understand and consider accounting for crypto-asset activities. The goal of our research is to identify what constitutes decision-useful information to financial statement users. Read about how we plan to bring awareness to crypto-asset accounting issues and advance evidence-informed standard setting conversations on this topic. Our first paper, “Accounting for Crypto-asset Activities: Crypto-asset Holdings – Payment Tokens,” is out now.

July 25, 2023


Volunteer Opportunity – Accounting Standards Board

Are you interested in contributing to accounting standard-setting in Canada? If so, we want to hear from you! Learn more about the available volunteer role on our Board and apply by September 15, 2023.