IFRS® Standards

AcSB Exposure Draft – Annual Improvements to IFRS® Standards 2018-2020


The Accounting Standards Board (AcSB) proposes, subject to comments received following exposure, to incorporate into Part I of the CPA Canada Handbook – Accounting, amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 9 Financial Instruments, and Illustrative Examples accompanying IFRS 16 Leases and IAS 41 Agriculture.

Staff Contact(s)

Andrew White, CPA, CA

Senior Principal, Accounting Standards Board


The International Accounting Standards Board (IASB) recently issued an Exposure Draft, Annual Improvements to IFRS® Standards 2018-2020, which is available on the IASB website at www.ifrs.org. The Introduction to this Exposure Draft explains how the IASB’s Annual Improvements project resulted in proposing the following amendments to IFRS Standards:

The IASB’s Exposure Draft includes a Basis for Conclusions that is not part of this Exposure Draft. This material may provide useful information to stakeholders.