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IFRS® Accounting Standards

Use of a Hyperinflationary Presentation Currency by a Non-hyperinflationary Entity


The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to amend International Accounting Standard (IAS) 21 The Effects of Changes in Foreign Exchange Rates.

The amendments will specify how to translate the results and financial position of an entity whose functional currency is non-hyperinflationary into a hyperinflationary presentation currency.

The AcSB’s due process ensures that Canadian entities’ financial reporting needs are considered by the IASB, and we issue our own exposure draft for every IASB proposal. Subject to the responses to our exposure draft, the AcSB expects to incorporate amendments into Canadian generally accepted accounting principles (GAAP), aligning with our strategy of adopting IFRS® Accounting Standards for publicly accountable enterprises.

Staff Contact(s)

Andrew White, CPA, CA Associate Director, Accounting Standards Board

Project Status

  • Information gathering

    Completed before December 2023

  • Approving project

    The IASB added this project to its work plan in December 2023​

  • Engaging Communities
  • Deliberating feedback
  • Final pronouncement