Canadian entities with extractive activities are important to the Canadian and global markets. Most of these entities apply IFRS® Standards as their financial reporting framework.
The International Accounting Standards Board (IASB) issued IFRS 6 Exploration for and Evaluation of Mineral Resources as an interim standard. The IASB is gathering evidence to help decide whether to start a project to develop proposals to replace IFRS 6. The Accounting Standards Board (AcSB) is supporting these critical sectors by participating in this research project.