IFRS® Standards

Annual Improvements 2014 – 2016


The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to amend three International Financial Reporting Standards (IFRSs) as part of its 2014 – 2016 Annual Improvements project.

Staff Contact(s)

Mohamed Hassanali, CPA, CA

Principal, Accounting Standards Board

Meeting & event summaries

September 17, 2015

AcSB Decision Summary – September 17, 2015

The AcSB approved a policy for responding to IASB narrow-scope exposure drafts that includes seeking feedback on proposals from members of its advisory committees, transition resource support groups and additional stakeholders based on the significance of the topic. The approved policy will be applied to recently released and future IASB narrow-scope exposure drafts.


December 15, 2016


Final Amendments – Annual Improvements to IFRS Standards 2014 – 2016 Cycle

December 15, 2016. The IASB has issued final amendments to three IFRSs as part of its Annual Improvements project. The amendments have varying effective dates.

February 17, 2016


AcSB Response – Annual Improvements to IFRSs 2014 – 2016 Cycle

On February 17, 2016, the AcSB submitted a comment letter responding to the IASB’s Exposure Draft issued in November 2015. The letter supports the proposed amendments. However, it suggests clarifying that an entity that has previously interpreted IAS 28 Investments in Associates and Joint Ventures as requiring a consistent accounting policy choice between fair value and equity method can reclassify individual investments on initial adoption of the amendment.  Read the AcSB letter posted by the IASB.

December 15, 2015


AcSB Exposure Draft – Annual Improvements to IFRSs 2014 – 2016 Cycle

December 15, 2015. 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 February 17, 2016.

November 20, 2015


IASB Exposure Draft – Annual Improvements to IFRSs 2014–2016 Cycle

November 20, 2015. The IASB has issued an Exposure Draft proposing amendments to three IFRSs as part of its annual improvements project. Canadian stakeholders are encouraged to submit their comments to the IASB by February 17, 2016.


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.