News Listings

The IASB extended the comment period for its Exposure Draft to July 30, 2021. The AcSB updated its Exposure Draft that corresponds to the IASB’s Exposure Draft to reflect the extended deadline. Stakeholders who would like their feedback considered prior to the AcSB finalizing its comment letter are encouraged to submit comments to the AcSB by July 15, 2021.

The Board discussed Cloud Computing, Contributions, Pension Plans, the 2021-2022 Annual Plan, the Strategic Plan, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

This Annual Plan sets out the Board’s key activities and project milestones in 2021-2022, including the IASB’s project on Rate Regulated Activities and domestic projects such as cloud computing, contributions and pension plans. Read the plan for full details.

The AcSB has issued the 2021 annual improvements to accounting standards for private enterprises and accounting standards for not-for-profit organizations. These amendments are effective for fiscal years beginning on or after January 1, 2022 with earlier application permitted.

The AcSB has issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Canadian stakeholders are encouraged to submit their comments by June 30, 2021.

We are pleased to announce new members and re-appointed members, and thank those retiring, to the Council, the AcSB and PSAB. See the appointments page for full details.

We are pleased to announce new members and re-appointed members, and thank those retiring, to the Council, the AcSB and PSAB. See the appointments page for full details.

The Board discussed Business Combinations Under Common Control, COVID-19-Related Rent Concessions, Crypto-Assets, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

On February 25, 2021, the AcSB submitted a comment letter responding to the IASB’s Exposure Draft issued in February 2021. The letter agrees with the proposal to extend the relief related to COVID-19 related rent concessions and suggests factors to consider when selecting the extension timeframe. The letter also suggests that the transition provisions provide more flexibility. 

The International Accounting Standards Board (IASB), the Financial Accounting Standards Board (FASB) and The Accounting Review (TAR) have issued a joint call for academic research papers on how key standards are performing in the capital markets. Selected papers will be presented at a joint conference titled Accounting for an Ever-Changing World, currently scheduled for 2-4 November 2022 in New York City, and will be considered for publication in TAR.