News Listings

Join us for a roundtable (in English) to learn more about the IASB’s Exposure Draft, “Climate-related and Other Uncertainties in the Financial Statements.” You will also have the opportunity to share your feedback directly with us to help shape our response to the IASB. Register now to save your spot!

The AcSB is undertaking a project to improve Financial Statement Concepts in Parts II and III of the CPA Canada Handbook – Accounting. Learn how this initiative can benefit both preparers and practitioners in practice, as well as the Board in standard-setting.

The IASB has published its Exposure Draft, “Climate-related and Other Uncertainties in the Financial Statements.” It proposes eight examples to illustrate how companies apply IFRS® Accounting Standards when reporting the effects of climate-related and other uncertainties in their financial statements. Respond directly to the IASB with your feedback by November 28, 2024. Stay tuned for an opportunity to participate in an English-language roundtable to learn more about the proposals and help inform our response to the IASB.

On July 15, 2024, the AcSB responded to the IASB’s Exposure Draft, “Business Combinations – Disclosures, Goodwill and Impairment,” issued in March 2024. While the AcSB supports the project’s objectives, we disagree with the IASB's approach to addressing users’ information needs in the IFRS 3 Business Combinations disclosure proposals. Our response includes several recommendations to ensure that the information in an entity’s financial statements aligns with the intent of the Conceptual Framework for Financial Reporting. Read our letter to learn more. This letter is posted on an external website; for an accessible version, please email us at [email protected].

The AcSB discussed Relief from Recognition of Intangible Assets, Amortization of Goodwill, Power Purchase Agreements, the Annual Plan, and more. Read the Decision Summary for full details.

The IASB issued narrow-scope amendments to the classification and measurement requirements in IFRS 9 Financial Instruments. The amendments clarify the classification of financial assets with environmental, social, corporate governance and similar features, and address concerns raised regarding the settlement of liabilities through electronic payment systems. They are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted. 

The AcSB will ballot the amendments and complete its endorsement process in Q3 2024. Find out more. 

Become a member of the Accounting Standards Board. Contribute to Canadian standards, gain professional insights, and engage with a diverse community. Apply by September 13, 2024.

The AcSB discussed Contributions, Business Combinations – Disclosures, Goodwill and Impairment, Intangibles, Insurance Contracts with Cash Surrender Value, Climate-related and Other Uncertainties in the Financial Statements, and more. Read the Decision Summary for full details.

The IASB’s newly issued IFRS Accounting Standard, IFRS 19 Subsidiaries without Public Accountability: Disclosures, permits eligible subsidiaries to use IFRS Accounting Standards with reduced disclosures. IFRS 19 is effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB will ballot IFRS 19 and complete its endorsement process in Q2 2024. Find out more.

How do new or amended IFRS^® Accounting Standards make their way into the CPA Canada Handbook – Accounting? Find out via this overview of the due process activities we completed in support of changes made to Part I of the Handbook in 2023.