IFRS® Standards

Annual Improvements 2012 – 2014

Summary

The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to amend four International Financial Reporting Standards (IFRSs) as part of its 2012 – 2014 Annual Improvements project.

Staff Contact(s)

Katharine Christopoulos, CPA, CA, CPA (Illinois)

Senior Principal, Accounting Standards Board

Meeting & event summaries


News


October 1, 2014

News

Final Amendments – Annual Improvements to IFRSs 2012 – 2014 Cycle

October 1, 2014. The IASB has issued final amendments to four IFRSs as part of its annual improvements project. The amendments are effective for annual periods beginning on or after January 1, 2016.

March 13, 2014

News

AcSB Response – Annual Improvements to IFRSs 2012 – 2014 Cycle

On March 13, 2014, the AcSB submitted a comment letter responding to the IASB’s Exposure Draft issued in December 2013. The letter supports most of the amendments. However, the letter questions if a fee earned from servicing a transferred financial asset constitutes continuing involvement and, thus, if the disclosure requirement is needed. Read the AcSB letter posted by the IASB.

January 22, 2014

News

AcSB Exposure Draft – Annual Improvements to IFRSs 2012 – 2014 Cycle

January 22, 2014. The AcSB has issued an Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Stakeholders are encouraged to submit their comments, on the form provided, by March 13, 2014.

December 17, 2013

News

IASB Exposure Draft – Annual Improvements to IFRSs 2012 – 2014 Cycle

December 17, 2013. The IASB has issued an Exposure Draft proposing amendments to four IFRSs as part of its annual improvements project. Canadian stakeholders are encouraged to submit their comments to the IASB by March 13, 2014.

Disclaimer

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.