News Listings

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 IFRS Accounting Standards Discussion Group invites you to share  the challenges you face when applying IFRS Accounting Standards. Submit your issue by July 16, 2024, for consideration as a discussion topic at our September 12, 2024, meeting.

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.

The IASB has published its Exposure Draft, “Contracts for Renewable Electricity,” which proposes amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. Respond directly to the IASB with your feedback by August 7, 2024. Also, stay tuned for the AcSB's wraparound exposure draft. If you want the AcSB to consider your feedback before finalizing our comment letter, please respond by July 31, 2024.

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. 

Climate change is impacting businesses worldwide, bringing challenges to both operations and financial reporting. The AcSB is releasing a series of awareness documents, developed to help organizations in navigating climate-related matters using ASPE standards, for improved financial reporting.

The AcSB discussed Application Questions, Contributions, Detailed Review of Accounting Standards for Private Enterprises, Carbon Credits Research, and more. Read the Decision Summary for full details.

On June 17, 2024, the International Accounting Standards Board, the Canadian Academic Accounting Association, and the AcSB will hold a virtual workshop targeted to academics providing an overview of IFRS 18 Presentation and Disclosure in Financial Statements. Register now to learn more!