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Addendum to the Exposure Draft Third edition of the IFRS for SMEs® Accounting Standard
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The IASB issued an Exposure Draft in March 2024
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Annual Improvements to IFRS® Accounting Standards — Cost Method (Amendments to IAS 7)
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The IASB issued the final amendments in July 2024
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Annual Improvements to IFRS® Accounting Standards — Derecognition of Lease Liabilities (Amendments to IFRS 9)
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The IASB issued the final amendments in July 2024
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Annual Improvements to IFRS® Accounting Standards — Determination of a ‘De Facto Agent’ (Amendments to IFRS 10)
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The IASB issued the final amendments in July 2024
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Annual Improvements to IFRS® Accounting Standards — Disclosure of Deferred Difference between Fair Value and Transaction Price (Amendments to Guidance on implementing IFRS 7)
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The IASB issued the final amendments in July 2024
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Annual Improvements to IFRS® Accounting Standards — Gain or Loss on Derecognition (Amendments to IFRS 7)
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The IASB issued the final amendments in July 2024
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Annual Improvements to IFRS® Accounting Standards — Hedge Accounting by a First-time Adopter (Amendments to IFRS 1)
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The IASB issued the final amendments in July 2024
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Annual Improvements to IFRS® Accounting Standards — Introduction and Credit Risk Disclosures (Amendments to Guidance on implementing IFRS 7)
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The IASB issued the final amendments in July 2024
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Annual Improvements to IFRS® Accounting Standards — Transaction Price (Amendments to IFRS 9)
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The IASB issued the final amendments in July 2024
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Business Combinations – Disclosures, Goodwill and Impairment
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The AcSB submitted its response letter to the IASB in July 2024
The IASB is currently deliberating comments on its Exposure Draft
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Classification and Measurement of Financial Instruments
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The IASB issued narrow-scope amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures in May 2024
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Climate-related and Other Uncertainties in the Financial Statements
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The IASB issued its Exposure Draft, “Climate-related and Other Uncertainties in the Financial Statements,” in July 2024
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Crypto-asset Activities
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The AcSB is conducting research to help it further develop its understanding of crypto-asset activities in Canada and around the world
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Disclosure Initiative – Subsidiaries without Public Accountability: Disclosures
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The IASB issued IFRS 19 Subsidiaries without Public Accountability: Disclosures in May 2024
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Dynamic Risk Management
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IASB added this project to its standard-setting program in May 2022
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Equity Method
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The IASB plans to publish an exposure draft of proposed amendments in September 2024
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Evaluating the Preface
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AcSB is researching issues with the current Preface of the CPA Canada Handbook – Accounting to identify potential solutions
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Financial Instruments with Characteristics of Equity
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The IASB is currently deliberating comments on their Exposure Draft
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Intangible Assets
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The AcSB is undertaking research to get a better understanding on the types of intangibles that are gaining prevalence in the Canadian market and the information required by financial statement users
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Management Commentary
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The IASB is currently deliberating comments on their Exposure Draft
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Post-implementation Review of IFRS 15
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The IASB is deliberating comments on its Request for Information
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Post-implementation Review of IFRS 16 Leases
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The IASB expects to publish a request for information in the first half of 2025
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Primary Financial Statements
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Provisions – Targeted Improvements
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The IASB added the project to its agenda in January 2020
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Rate-regulated Activities
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The IASB is currently drafting the new Standard and expects to issue it in the second half of 2025, with an effective date of January 1, 2029. Early application of the Standard will be permitted
The AcSB will ballot the new Standard after issuance and complete its endorsement process
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Second Comprehensive Review of the IFRS for SMEs Accounting Standard
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The IASB is currently deliberating comments on their Exposure Draft
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Statement of Cash Flows and Related Matters
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The AcSB is performing research to understand the usefulness of the Statement of Cash Flows and whether there are other cash flow measures more relevant to financial statement users
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Updating IFRS 19 Subsidiaries without Public Accountability: Disclosures
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Use of a Hyperinflationary Presentation Currency by a Non-hyperinflationary Entity
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The IASB added this project to its work plan in December 2023
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