News Listings

On September 25, 2019, the AcSB responded to the IASB’s Exposure Draft, issued in June 2019. We encourage the IASB to move quickly to finalize IFRS 17, as the standard is expected to benefit the global capital markets. A common global adoption date of IFRS 17 is critical to the success of transitioning to the new insurance contract standard. Read our letter to find out more!

The Group discussed topics such as accounting for sale-lease back transactions with variable payments, and application issues from an asset acquisition. Read about the views expressed by Group members for helpful tips on these and other topics.   

The Board discussed topics such as IFRS® Standards, Insurance, Revenue, Combinations, Contributions, and ASPE implementation questions, among others.

AcSB Exposure Draft – Employee Future Benefits – Use of a Funding Valuation

The AcSB seeks feedback on its proposals to modify the guidance on using an actuarial valuation for funding purposes in the measurement of the defined benefit obligation. These proposals apply to private enterprises and not-for-profit organizations applying the standards in Parts II and III of the CPA Canada Handbook – Accounting. Stakeholders are encouraged to submit their comments by December 16, 2019.

On August 19, 2019, the AcSB responded to the IASB’s Exposure Draft, Annual Improvements to IFRS® Standards 2018-2020. The Exposure Draft proposed amendments to IFRS Standards as part of the IASB’s Annual Improvements process. Read our letter to understand the matters we raised to the IASB for further consideration.

Hear Armand Capisciolto, Vice-Chair of the Accounting Standard Board, discuss implementation questions on the application of the amendments to Section 3856, Financial Instruments.

AcSB Exposure Draft – Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice Statement 2)

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 November 29, 2019.

At its upcoming meeting the Board will consider matters regarding IFRS^® Standards, standards for private enterprises, not-for-profit organizations, and due process, among others.

The IASB has issued an Exposure Draft proposing amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements. Canadian stakeholders are encouraged to submit their comments to the IASB by November 29, 2019.

The IASB has issued an Exposure Draft proposing amendments to IAS 12 Income Taxes. Canadian stakeholders are encouraged to submit their comments to the IASB by November 14, 2019.