News Listings

The Group discussed Year-end Financial Reporting Reminders, IFRS 18: Classification of income and expenses that arise from liabilities, and more. Read the meeting report for full details!

The AcSB has issued narrow scope amendments to Section 3840, Related Party Transactions in Part II of the Handbook. The amendments address accounting for a combination involving a business under common control and are effective for fiscal years beginning on or after January 1, 2026.

The amendments, which include reduced disclosure requirements for new and amended IFRS Accounting Standards issued between February 2021 and May 2024, are now in Part I of the CPA Canada Handbook.

These are effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB discussed Revenue – Control Model, Guidance Framework: Equity Method and Going Concern, Contributions, Annual Plan, Strategic Plan, and more. Read the decision summary for full details.

The AcSB has issued amendments to Section 3041, Agriculture, to remove certain disclosure requirements for agricultural inventories and provide targeted clarifications on the accounting for productive biological assets. The amendments are effective for fiscal years beginning on or after January 1, 2027, with earlier application permitted.

The AcSB discussed Retractable or Mandatorily Redeemable Shares, met with members of the International Accounting Standards Board and Canadian Securities Administrators, and more. Read our Decision Summary for full details.

The AcSB wants your feedback on proposed amendments to ASPE that would allow private enterprises to amortize goodwill and provide optional relief from recognizing acquired intangible assets. Submit your comments by January 31, 2026.

The AcSB proposes amendments to Sections 1582, Business Combinations, and Section 3064, Goodwill and Intangible Assets. These proposals would allow private enterprises to amortize goodwill and provide optional relief from recognizing intangible assets acquired in a business combination. Learn about these proposals and how to share your views by January 31, 2026.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by October 17, 2025, for consideration as a discussion topic at our December 9, 2025, meeting.

Are you a Canadian private enterprise, a user of their financial statements, or a practitioner familiar with private enterprise financial reporting? Watch our recorded webinar to learn more about the application issues and proposed solutions discussed in the AcSB’s Consultation Paper, “Detailed Review of Accounting Standards for Private Enterprises.” We also outlined how you can share your views during our comment period. Watch it now and stay up to date with our project!