IFRS® Standards

Overview

Active Projects

Accounting Policies and Accounting Estimates (Amend IAS 8)

IASB Exposure Draft issued in September 2017

AcSB Exposure Draft, which corresponds to the IASB Exposure Draft, issued in October 2017

Public outreach on Exposure Draft took place between October 2017–January 2018

The AcSB consulted with its IFRS Discussion Group in October 2017

Accounting Policy Changes (Amend IAS 8)

The IASB and AcSB are deliberating comments on their Exposure Drafts

Availability of a Refund (Amend IFRIC 14)

The IASB and AcSB are deliberating comments on their Exposure Drafts

Business Combinations under Common Control
Classification of Liabilities (Amend IAS 1)

The IASB resumed discussions on the proposed amendments to classification requirements in paragraphs 69–76 of IAS 1 Presentation of Financial Statements in September 2018

Disclosure Initiative—Accounting Policies
Disclosure Initiative—Definition of Material (Amendments to IAS 1 and IAS 8)

The IASB and AcSB are deliberating comments on their Exposure Drafts

The IASB expects to issue the amendments in November 2018

Disclosure initiative—Principles of Disclosure

The IASB and AcSB are deliberating comments on their Exposure Drafts

Disclosure Initiative—Targeted Standards-level Review of Disclosures
Discount Rates
Dynamic Risk Management
Extractive Activities
Fees in the ’10 per cent’ Test for Derecognition (Amend IFRS 9)
Financial Instruments with Characteristics of Equity
Goodwill-and-Impairment
IBOR Reform and the Effects on Financial Reporting
Improvements to IFRS 8 Operating Segments (Amend IFRS 8 and IAS 34)

The IASB and AcSB deliberated comments on their Exposure Drafts

The IASB decided not to proceed with the proposals and not to amend IFRS 8

The IASB plans to issue a feedback statement in December 2018

Lease Incentives (Amendments to IFRS 16 Illustrative Examples)
Management Commentary
Onerous Contracts – Cost of Fulfilling a Contract (Proposed amendments to IAS 37)

IASB Exposure Draft issued in December 2018

AcSB Exposure Draft issued in January 2019

Pension Benefits that Depend on Asset Returns
Post-implementation Review of IFRS 13 Fair Value Measurement

The IASB plans to publish a feedback statement in December 2018

Primary Financial Statements
Property, Plant and Equipment: Proceeds before Intended Use (Amend IAS 16)

IASB and AcSB are deliberating comments on their Exposure Drafts

Rate-regulated Activities

The IASB deliberated comments received on its Discussion Paper from September 2014–May 2015

The IASB is developing proposals and is expected to issue a second discussion paper or an exposure draft in the second half of 2019

The AcSB published its research paper in November 2018

Subsidiary as a First-time Adopter (IFRS 1)
Taxation in Fair Value Measurements (IAS 41)
Updating a Reference to the Conceptual Framework (Amendments to IFRS 3)

CPA Canada Handbook

CPA Canada Handbook – Accounting, Part I contains all the IFRS Standards, set by the International Accounting Standards Board and endorsed by the AcSB. Its available in print and online.

News


January 18, 2019 News
Webinar – AcSB Framework for Reporting Performance Measures

Are you a preparer, director, practitioner, investor or contributor who reports, oversees, assesses or uses performance measures? Learn how you can help improve the quality of performance measures by leveraging this Framework. Join in on February 27, 2019 (English) or March 1, 2019 (French).

January 17, 2019 Meeting Summary
IFRS® Discussion Group Archived Audio Webcast – January 10, 2019

Listen to the Group’s insights on topics, including definition of a business, credit enhancements, and 2019 interim disclosure considerations. Tune into opening remarks for updates on topics such as cannabis accounting and asset retirement obligations.

January 15, 2019 Meeting Summary
AcSB Decision Summary – December 12, 2018

The Board discussed a number of topics, including Financial Instruments with Characteristics of Equity, Insurance Contracts, Revenue, Agriculture, Employee Future Benefits, the Board’s 2019-2020 Annual Plan, and the activities of the Not-for-Profit Advisory Committee and Private Enterprises Advisory Committee.