News Listings

The Group discussed Accounting for Lending Crypto Assets, Accounting for Earn-in Expenditures Prior to Acquisition of a Mining Interest, Accounting for the Development of Carbon Credits that will Ultimately be Sold, and more. Read the meeting report for full details!

The IASB has issued amendments to IAS 12 Income Taxes. The amendments give companies temporary relief from accounting for deferred taxes arising from the Organisation for Economic Co-Operation and Development’s (OECD) international tax reform.

The AcSB discussed Sustainability, Domestic Implications of International Tax Reform, Related Party Combinations, Pension Plans, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The AcSB discussed Insurance Contracts with a Cash Surrender Value, Pension Plans, the AcSB’s Performance Report and Annual Report, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The AcSB issued an Exposure Draft proposing annual improvements to accounting standards for pension plans. These improvements relate to disclosures for guaranteed annuity contracts, commonly referred to as “buy-in” annuity contracts. We encourage you to submit your comments by June 2, 2023.

The AcSB issued its Exposure Draft which 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 to us by July 7, 2023.

Read our In Brief for an overview of Exposure Draft (ED), “Contributions – Revenue Recognition and Related Matters." The ED proposals aim to improve financial reporting by not-for-profit organizations by creating guidance that will result in financial statements that are less complex and more comparable for financial statement users. Share your feedback by submitting a comment letter by September 30, 2023, and/or attending one of our roundtables to be held during the comment period.

The AcSB’s Annual Plan describes the Board’s key activities and project milestones set for 2023-2024. Read about our progress on objectives from our five-year Strategic Plan, including our work to enhance the relevance of accounting standards for each category of reporting entity in Canada. 

Share your views on a proposed new accounting standard, Contributions Received by Not-for-Profit Organizations and proposed amendments to Section 4400, Financial Statement Presentation by Not-for-Profit Organizations. Participate in our upcoming consultation activities or send us a comment letter with your feedback. Reply by September 30, 2023, and have your say!

The AcSB has released “Consultation Paper I – Exploring Scalability in Canada.” Read this paper to find out about our proposed scalability solutions and provide your feedback on the future direction of this project by July 31, 2023.