FRASCanada
September 21, 2023
Document for Comment, News
The AASB is seeking Canadian input on its new Exposure Draft, “Proposed CSSA 5000, General Requirements for Sustainability Assurance Engagements.” Submit your general questions and comments on the Exposure Draft by November 6, 2023, and your feedback on the Canadian amendment and potential additional Canadian amendments by December 31, 2023. Read the Exposure Draft to learn more.
September 18, 2023
Document for Comment, International Activity, News
The IASB has published an Exposure Draft proposing amendments to IFRS Accounting Standards as part of its annual improvements process. Respond with your feedback by December 11, 2023.
September 15, 2023
News
On August 22, 2023, the Board submitted a response letter to the IAASB’s Exposure Draft, Proposed International Standard on Auditing 570 (Revised) Going Concern. Read our response letter to learn about the matters we raised to the IAASB for further consideration.
September 8, 2023
News, Resource, Sustainability
The CSSB has responded to the ISSB Request for Information, Consultation on Agenda Priorities, following four months of engagement with Canadian individuals and groups. The letter includes detailed responses to select questions, along with three key messages from our market outreach. Find out more.
September 5, 2023
On August 25, 2023, the AcSB responded to the ISSB’s Request for Information, “Consultation on Agenda Priorities.” We strongly encourage the ISSB to focus its time over the next two years on the implementation of its inaugural standards, IFRS S1 and S2. We further emphasize continuing to prioritize work that ensures connectivity between financial and sustainability reporting requirements, and the interoperability of ISSB requirements with other sustainability standards. Read our letter for more on the matters we raised to the ISSB for further consideration.
August 31, 2023
Read these top 5 frequently asked questions as both a reminder and update in advance of coming decisions related to the IRCSS’ Final Report – decisions that will pave the way forward for standard setting in Canada for years to come.
August 22, 2023
International Activity, News
The IASB issued amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates that require entities to provide more useful information in their financial statements when a currency cannot be exchanged into another currency. The AcSB will ballot the final amendments and complete its endorsement process in Q4 2023.
August 15, 2023
Meeting Summary
The Board reviewed a draft response letter to the IAASB’s Exposure Draft, ISA 570, Going Concern and discussed comments received on the AASB’s Exposure Draft of CAS 570, Going Concern. Read the decision summary for more details.
Resource, Other
Read our In Brief on Section 3465, Income Taxes – International Tax Reform – Pillar Two Model Rules. We discuss how entities that apply Part II may be impacted by the Pillar Two Model rules issued by the Organisation for Economic Development (OECD).
August 3, 2023
Ensuring that standard setting in Canada is adequately resourced and the activities of the AcSB, the AASB, PSAB and the CSSB continue without disruption is of utmost importance, write the Chairs of AASOC and AcSOC, Kevin Nye and Lorraine Moore.