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Accounting Standards for Private Enterprises

Detailed Review of Accounting Standards for Private Enterprises


As part of the AcSB’s 2022-2027 Strategic Plan, the Board committed to exploring scaling the standards for non-listed entities to better meet the different reporting needs of the wide variety of entities that apply domestic accounting standards in Canada. The AcSB issued Consultation Paper I – Exploring Scalability in Canada in March 2023 to gather broad input on key issues and potential solutions related to scaling the standards.

During outreach, the AcSB consistently heard that several standards in Part II of the CPA Canada Handbook – Accounting are either complex to apply or result in information that is not useful to financial statement users.

Based on this feedback, the AcSB decided to conduct a detailed review of Accounting Standards for Private Enterprises (ASPE) to identify the requirements that are most complex to apply and propose practical solutions. This project aims to increase the understandability and accessibility of the standards for all entities, but it does not intend or expect to address or fix every issue with each standard.

Staff Contact(s)

Jamie Goodman, CPA, CA Principal, Accounting Standards Board

Matthew Bishop, CPA, CA Principal, Accounting Standards Board

Project Status

  • Information gathering

    Research completed prior to January 2024

  • Approving project

    The AcSB approved the project in January 2024

    The AcSB expects to issue a consultation paper in early 2025

  • Engaging Communities
  • Deliberating feedback
  • Final pronouncement

Meeting & event summaries

July 9, 2024

AcSB Decision Summary – June 19-20, 2024

The AcSB discussed the scope of its Detailed Review of Accounting Standards for Private Enterprises. The Board approved an approach to determine which issues will be addressed as part of this project. The approach aims to ensure the project focuses on issues that arise from unnecessarily complex, onerous, and/or costly requirements in Part II of the CPA Canada Handbook - Accounting, considering the needs of and benefits to financial statement users. The approach seeks to capture only the most significant and pervasive issues within the scope of this project. Additionally, the approved approach clarifies the types of issues that will be addressed through the Board’s guidance framework for domestic standards rather than through this project.


This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal voting process.