News Listings

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.

Join us for a virtual roundtable discussion on the AcSB’s Exposure Draft, “Amendments to Section 3856, Financial Instruments – Derecognition of Financial Liabilities.” Our English roundtable is January 12, 2027, and our French roundtable is January 13, 2027.

Don’t miss your chance to share your feedback with us to help inform the Board’s decisions. Register now to save your spot!  

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.

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.