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)

IASB Exposure Draft issued in July 2019

AcSB Exposure Draft issued in July 2019

Disclosure Initiative—Accounting Policies

AcSB Exposure Draft issued in August 2019

IASB Exposure Draft issued in August 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)

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

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)

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

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

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

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 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 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)

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

Taxation in Fair Value Measurements (Amendments to IAS 41)

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

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


September 9, 2019 News
AcSB Response – Annual Improvements to IFRS® Standards 2018-2020 Exposure Draft

On August 19, 2019, the AcSB responded to the IASB’s Exposure Draft, Annual Improvements to IFRS® Standards 2018-2020. The Exposure Draft proposed amendments to IFRS Standards as part of the IASB’s Annual Improvements process. Read our letter to understand the matters we raised to the IASB for further consideration.

August 23, 2019 News
IFRS® Discussion Group Meeting Agenda – September 25, 2019

Just in time for the new lease standard implementation! The Group’s agenda covers many application issues on leases such as accounting for sale-lease back transactions with variable payments. It also covers other interesting topics, such as asset acquisition, financial instruments, and IBOR Reform. Register today to attend as an in-person or virtual observer!

August 16, 2019 News
AcSB Meeting Agenda – September 17-18, 2019

At its upcoming meeting the Board will consider matters regarding IFRS® Standards, standards for private enterprises, not-for-profit organizations, and due process, among others.