News Listings

The IASB has published an Exposure Draft, Third edition of the IFRS for SMEs Accounting Standard as part of its second comprehensive review of the standard. Stakeholders are encouraged to respond by March 7, 2023.

The AcSB discussed Contributions, Cloud Computing Arrangements, Related Party Combinations, Reporting Controlled and Related Entities, Sustainability, Pension Plans, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The AcSB discussed Contributions, Cloud Computing Arrangements, Pension Plans, Sustainability, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

Did you know that IFRS 17, Insurance Contracts, can apply to insurance contracts issued by non-insurance entities? If not, you are not alone! Check out some helpful resources to learn more about how this Standard might apply to you.

The Council is pleased to announce that current Vice-Chair, Armand Capisciolto, FCPA, FCA, will serve as AcSB’s interim Chair from September 1, 2022 to December 31, 2022. Armand will continue in his role with BDO Canada, LLP, while he serves his interim tenure. The permanent AcSB Chair is expected to be announced by the fall.

The AcSB wants your feedback on its proposed amendments to Section 3400, Revenue, applicable to private enterprises and not-for-profit organizations. The Board is proposing to defer the effective date of the amendments relating to upfront non-refundable fees or payments to January 1, 2025, while it researches the effects of previously issued amendments. Submit your comments by August 15, 2022.

The AcSB discussed Contributions, Related Party Combinations, Related Party Transactions, Revenue, Insurance, Crypto-Assets, Sustainability, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

Sustainability standard setting is at a pivotal juncture, with the first draft standards issued for public comment by the ISSB. Watch our 15-minute, on-demand webinar for an overview of the ISSB and their inaugural Exposure Drafts, the different ways you can participate in this consultation period to inform Canada’s response, and how to stay up to date on the latest developments on sustainability standards.

At its May 19, 2022, meeting, the Group discussed Special Purpose Acquisition Companies (SPAC): Accounting for Warrants at Acquisition, Financial Reporting Considerations of Hybrid Work Arrangements, IFRS 17: Matters for Non-insurance Entities, and more. Read the meeting report for full details.

As the pace of progress in sustainability disclosures continues to accelerate, the Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) mutually approved the formation of the Canadian Sustainability Standards Board (CSSB). Read the media release to learn more about what this means for Canada.