IFRS® Standards

Overview

Active Projects

Accounting Policies and Accounting Estimates (Amend IAS 8)

The IASB and AcSB are deliberating comments on their Exposure Drafts

Accounting Policy Changes (Amend IAS 8)

The IASB and AcSB are deliberating comments on their Exposure Drafts

Amendments to IFRS 17 Insurance Contracts

The IASB approved the project in November 2018

The IASB is expected to issue an Exposure Draft in Q2 2019

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

Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12)
Disclosure Initiative—Accounting Policies
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

In 2018, the IASB started gathering evidence to help it decide the scope and direction of a research project.

AcSB staff prepared a Research Update to assist the IASB in identifying topics it should consider in its research.

Fees in the ’10 per cent’ Test for Derecognition (Amend IFRS 9)
Financial Instruments with Characteristics of Equity

The AcSB submitted its response letter to the IASB in January 2019

The IASB is currently deliberating comments on their Discussion paper.

Goodwill-and-Impairment
IBOR Reform and the Effects on Financial Reporting
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
Primary Financial Statements
Property, Plant and Equipment: Proceeds before Intended Use (Amend IAS 16)

IASB and AcSB are deliberating comments on their Exposure Drafts

Provisions
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


March 19, 2019 News
IFRS® Standards Project Summary – Responses to Exposure Draft, Improvements to IFRS 8 Operating Segments

IFRS Foundation staff have issued a Project Summary of the Exposure Draft, Improvements to IFRS 8 Operating Segments.
The Project Summary provides the IASB’s rationale for deciding not to proceed with the amendments proposed in the Exposure Draft.

March 19, 2019 News
IFRS® Foundation Project Summary – Discount Rates in IFRS Standards

IFRS Foundation staff have issued a Project Summary that provides an overview of research considered by the IASB from 2014 to 2017 on Discount Rates in IFRS Standards. Outputs of this project consist of research findings and a summary listing matters that the IASB staff will consider in the future when developing recommendations for the IASB on present value measurement requirements.

March 19, 2019 News
IFRS® Discussion Group – Request for Issues

The IFRS Discussion Group wants to hear about the challenges you face when applying IFRS Standards. Submit your issue by April 19, 2019, for consideration as a potential topic for discussion at our June 20, 2019 meeting in Toronto.