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IFRS® Accounting Standards

Accounting Policies and Accounting Estimates (Amendments to IAS 8)


The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to amend IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.

Staff Contact(s)

Davina Tam, CPA, CA Principal, Accounting Standards Board

Project Status

  • Information gathering

    Completed prior to April 2016

  • Approving project

    The IASB approved the project in April 2016

  • Consulting stakeholders

    IASB Exposure Draft issued in September 2017

    AcSB Exposure Draft, which corresponds to the IASB Exposure Draft, issued in October 2017

    Public outreach on Exposure Draft took place between October 2017–January 2018

    The AcSB consulted with its IFRS Discussion Group in October 2017

  • Deliberating feedback

    The IASB and AcSB are deliberating comments on their Exposure Drafts

    The IASB is expected to issue final amendments in March 2021

  • Final pronouncement

    The IASB issued the final amendments in February 2021

    The AcSB endorsed the IASB’s amendments, and they have been incorporated into Canadian GAAP with an effective date beginning on or after of January 1, 2023


September 18, 2017

International Activity

IASB® Exposure Draft – Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8)

The IASB has issued an Exposure Draft proposing amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Canadian stakeholders are encouraged to submit their comments to the IASB by January 15, 2018.


This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal ballot process.