News Listings

The AcSB has issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. The AcSB will not be submitting a response letter to the IASB Exposure Draft. However, this decision will be reviewed throughout the comment period and reconsidered based on stakeholder feedback. As a result, stakeholders are encouraged to reply to the AcSB prior to July 15, 2021 to support our ongoing discussions.

The Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) have initiated a review of Canadian standard setting. The Independent Review Committee on Standard Setting in Canada was formed to review of the governance and structure for establishing accounting, auditing, and assurance standards, as well what might be needed for the future – including sustainability standards. 

Despite the pandemic, we moved our work forward. We were nimble in this new environment—delaying and advancing projects based on the importance to our stakeholders. Read about the AcSB’s 2020-2021 activities and accomplishment in this year’s Annual Report.

The Board discussed the Disclosure Initiative, Third Agenda Consultation, Contributions, and the AcSB’s Strategic Plan. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The Trustees of the IFRS Foundation published proposed amendments to the Constitution of the Foundation to accommodate a potential new International Sustainability Standards Board within the governance structure of the organization. Canadian stakeholders are encouraged to reply to the Foundation by July 29, 2021. 

The Board discussed the Post Implementation Review of IFRS 10, 11, and 12, Insurance Contracts, AcSB’s Strategic Plan, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives. 

The AcSB has issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Stakeholders are encouraged to submit their comments by October 21, 2021.

The IASB has issued an Exposure Draft to amend IAS 21. The proposed amendments aim to help companies determine whether a currency can be exchanged into another currency, and what accounting to apply if the currency cannot be exchanged. Canadian stakeholders are encouraged to submit their comments to the IASB by September 1, 2021.

The Board discussed the Post Implementation Review of IFRS 10, 11, and 12, IBOR Reform, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

IASB Exposure Draft – Disclosure Requirements in IFRS Standards – A Pilot Approach

The IASB issued an Exposure Draft proposing guidance on developing and drafting disclosure requirements for IFRS Standards in the future. The document includes also amendments to the disclosure section of IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits. Canadian stakeholders are encouraged to submit their comments to the IASB by October 21, 2021.