News Listings

The AcSB issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. If you would like your feedback considered prior to the AcSB finalizing its comment letter, please respond by January 8, 2025.

The AcSB discussed the Equity Method, Related Party Combinations, Climate-related and Other Uncertainties in Financial Statements, the Annual Plan, and more. Read the Decision Summary for full details.

The AcSB continues to explore the impact of climate change on businesses and ASPE financial statements. In this second installment, we focus on topics such as property, plant, and equipment, impairment of long-lived assets, and contingent liabilities. This awareness series is designed to help organizations navigate climate-related matters using ASPE.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by October 11, 2024, for consideration as a discussion topic at our December 3, 2024, meeting.

The AcSB discussed Relief from Recognition of Intangible Assets, and Amortization of Goodwill, Contributions, Agriculture, Related Party Combinations, Detailed Review of ASPE, Climate-related and Other Uncertainties in the Financial Statements, Reporting Controlled and Related Entities, Part IV priorities, and more. Read the Decision Summary for full details.

The Group discussed Distinguishing between a Lease Modification and an Extinguishment of a Lease Liability, IFRS 18 Implementation Issues, Derecognition of Financial Liabilities Settled Using Electronic Payment Systems, Disclosure of Revenue and Expenses for Reportable Segments and more. Read the meeting report for full details!

The IASB has published an Exposure Draft, “Translation to a Hyperinflationary Presentation Currency,” which proposes amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates. Respond directly to the IASB with your feedback by November 22, 2024. In addition, stay tuned for the AcSB's wraparound exposure draft. The AcSB is not planning to respond to the IASB’s Exposure Draft, as this issue is not widespread for Canadian entities. If you think the AcSB should respond to this Exposure Draft, please send us your comment letter by October 31, 2024.

The AcSB is undertaking a project to improve Financial Statement Concepts in Parts II and III of the CPA Canada Handbook – Accounting. Learn how this initiative can benefit both preparers and practitioners in practice, as well as the Board in standard-setting.

The AcSB is undertaking a project to improve Financial Statement Concepts in Parts II and III of the CPA Canada Handbook – Accounting. Learn how this initiative can benefit both preparers and practitioners in practice, as well as the Board in standard-setting.  

The IASB has published its Exposure Draft, “Climate-related and Other Uncertainties in the Financial Statements.” It proposes eight examples to illustrate how companies apply IFRS® Accounting Standards when reporting the effects of climate-related and other uncertainties in their financial statements. Respond directly to the IASB with your feedback by November 28, 2024. Stay tuned for an opportunity to participate in an English-language roundtable to learn more about the proposals and help inform our response to the IASB.