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The Accounting Standards Board (AcSB) issued its Exposure Draft that corresponds to the International Accounting Standards Board’s Exposure Draft on this topic. If you would like your feedback considered prior to the AcSB finalizing its comment letter, please respond by March 27, 2026.

The AcSB has endorsed amendments to illustrative examples in IFRS 7 Financial Instruments: Disclosures, IFRS 18 Presentation and Disclosure in Financial Statements, IAS 1 Presentation of Financial Statements, IAS 8 Basis of Preparation of Financial Statements, IAS 36 Impairment of Assets, and IAS 37 Provisions, Contingent Liabilities and Contingent Assets that clarify how entities disclose uncertainties in the financial statements. The examples use climate-related scenarios as practical illustrations, but the underlying principles apply more broadly to all uncertainties. The amendments are now in Part I of the CPA Canada Handbook – IFRS^® Accounting Standards. The illustrative examples do not have an effective date because they support, but are not part of, IFRS Accounting Standards.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by March 6, 2026, for consideration as a discussion topic at our May 12, 2026, meeting.

The AcSB discussed the Risk Mitigation Accounting project, Guidance Framework topics including Cloud Computing and Agriculture, and more. Read the decision summary for full details.

The amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates specify the translation procedures for an entity whose presentation currency is that of a hyperinflationary economy. The amendments are now in Part I of the CPA Canada Handbook. They are effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The Accounting Standards Board (AcSB) issued its Exposure Draft. “Risk Mitigation Accounting,” which corresponds to the International Accounting Standards Board’s Exposure Draft on this topic. If you would like your feedback considered before the AcSB finalizes its comment letter, please respond by June 15, 2026.

The AcSB conducted a post-implementation review of the ROMRS amendments to the Accounting Standards for Private Enterprises. The Board confirmed the amendments are working as intended, with no major issues, and will not pursue further consultation. The Board emphasizes that it will continue to monitor emerging ROMRS application issues through its Guidance Framework. Read our full project summary for details.

The AcSB discussed December 2025 meeting recommendations from the IFRS® Accounting Standards Discussion Group; National Instrument 52-112, Non-GAAP and Other Financial Measures Disclosure; Contributions; its annual plan; its strategic plan; and more. Read the decision summary for full details.

The Chairs of Canada’s Accounting Standards Board (AcSB) and Canadian Sustainability Standards Board (CSSB) met with their Japanese counterparts, the Accounting Standards Board (ASBJ) and Sustainability Standards Board (SSBJ), in Toronto on January 12, 2026. They shared updates on their boards’ activities, discussed how national standard setters can support the IASB and ISSB respectively, and explored opportunities for continued collaboration with the IFRS Foundation to advance high-quality, globally aligned accounting and sustainability disclosure standards. Read more about the meeting and key takeaways.

The AcSB discussed its ROMRS Project Summary, Performance Report, Financial Statement Concepts project, Guidance Framework: Part IV/IFRS 18, Part IV Agenda Consultation, Annual Plan, and more. Read our Decision Summary for full details.