IFRS® Standards

Overview

Active Projects

2019 Comprehensive Review of the IFRS for SMEs Standard
Accounting Policies and Accounting Estimates (Amendments to IAS 8)

The IASB and AcSB are deliberating comments on their Exposure Drafts

Accounting Policy Changes (Amendments to IAS 8)

The IASB and AcSB are deliberating comments on their Exposure Drafts

Amendments to IFRS 17 Insurance Contracts

IASB Exposure Draft issued in June 2019

AcSB Exposure Draft, which corresponds to the IASB Exposure Draft, issued in July 2019

AcSB is holding a number of outreach events throughout July and September 2019

Availability of a Refund (Amendments to IFRIC 14)

The IASB and AcSB are deliberating comments on their Exposure Drafts

Business Combinations under Common Control
Classification of Liabilities (Amendments to 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)

The IASB approved the project in October 2018

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

Disclosure Initiative—Accounting Policies

The IASB added the project to its agenda in July 2018.

The IASB is expected to issue an Exposure Draft in the second half of 2019.

Disclosure Initiative—Targeted Standards-level Review of Disclosures
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 (Amendments to IFRS 9)

IASB Exposure Draft issued in May 2019

AcSB Exposure Draft issued in May 2019

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
Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39)

IASB Exposure Draft issued in May 2019

AcSB Exposure Draft issued in May 2019

Lease Incentives (Amendment to Illustrative Example 13 accompanying IFRS 16)

AcSB Exposure Draft issued in May 2019

IASB Exposure Draft issued in May 2019

Management Commentary
Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37)

The IASB and the AcSB are deliberating comments on their Exposure Drafts

Pension Benefits that Depend on Asset Returns
Primary Financial Statements

The IASB added the project to its research agenda in July 2014.

The IASB is expected to issue a an Exposure Draft in the second half of 2019.

Property, Plant and Equipment: Proceeds before Intended Use (Amendments to 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 an exposure draft, instead of a second discussion paper, in the first quarter of 2020

The AcSB published its research paper in November 2018

Subsidiaries that are SMEs
Subsidiary as a First-time Adopter (Amendments to IFRS 1)

IASB Exposure Draft issued in May 2019

AcSB Exposure Draft issued in May 2019

Taxation in Fair Value Measurements (Amendments to IAS 41)

IASB Exposure Draft issued in May 2019

AcSB Exposure Draft issued in May 2019

Updating a Reference to the Conceptual Framework (Amendments to IFRS 3)

IASB Exposure Draft issued in May 2019

AcSB Exposure Draft issued in June 2019

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


July 17, 2019 News
Extractive Activities — AcSB Staff's Research Update

The revised In Brief features additional context from the Research Update provided to the IASB. Read the In Brief for an overview of the results of the AcSB staff’s research findings, stakeholder views, and suggestions on additional areas for the IASB to consider as it starts research on extractive activities.

July 16, 2019 News
Virtual Roundtable Discussions – Stakeholders’ Views Sought on the Proposed Amendments to the New Insurance Standard

The AcSB is holding a virtual roundtable on September 5, 2019 to seek input on the IASB’s Exposure Draft, “Amendments to IFRS 17.” Complete the registration form to attend the virtual roundtable and share your views!

July 16, 2019 News
Press Release – Representatives of the Accounting Standards Board and the Organismo Italiano di Contabilità met in Rome

On July 15, 2019, the AcSB Chair and other staff members met with Italy’s national standard setter, the Organismo Italiano di Contabilità. Both standard-setting bodies provided updates on their activities and discussed a number of technical topics and projects, including their shared view of the importance of a common global adoption date for IFRS 17 Insurance Contracts.