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May 14, 2024

Meeting Summary, Webpage

IFRS® Accounting Standards Discussion Group Recording – May 14, 2024

Watch the video recording of our Group’s May meeting. Agenda topics included IAS 12: Accounting for Deferred Tax Assets under OECD Pillar Two GloBE Rules, IAS 36: Assessment of Cash Generating Units (CGUs) in a Production Facility with Multiple Production Lines When One of the Products Has a Declining Market Demand, and more. Don’t miss out on the latest IFRS news! Watch our meeting for a limited time, on demand.

May 14, 2024

News, Resource

Contributions – Revenue Recognition and Related Matters Exposure Draft Feedback Statement

Read the feedback statement for AcSB's 2023 Exposure Draft, “Contributions – Revenue Recognition and Related Matters” to learn how your feedback has shaped the future direction of the Contributions project.

May 3, 2024

International Activity

IPSASB issues Exposure Draft 89, “Amendments to Consider IFRIC Interpretations”

PSAB encourages interested and affected parties to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 89, “Amendments to Consider IFRIC Interpretations.” Respond directly to IPSASB by June 17, 2024, to ensure Canadian-specific issues and perspectives related to the proposed amendments are considered.

May 1, 2024


AcSB issues amendment to Section 3400, Revenue

The AcSB issued an amendment to Section 3400, Revenue, to indefinitely defer the effective date of previously issued amendments relating to upfront non-refundable fees or payments. Earlier application is permitted. The amendments also introduce a disclosure requirement for some upfront non-refundable fees or payments.

April 24, 2024

Meeting Summary

AcSB Decision Summary – April 24, 2024

The AcSB discussed Financial Statement Concepts, Contributions, its performance report, and more. Read the Decision Summary for full details.

April 23, 2024

Document for Comment, International Activity, News

AcSB Exposure Draft – Business Combinations – Disclosures, Goodwill and Impairment

The AcSB issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. If you would like your feedback considered prior to our Board finalizing our comment letter, please respond by June 14, 2024. 

April 18, 2024


Addendum to the Exposure Draft Third edition of the IFRS for SMEs® Accounting Standard

The IASB’s recently released Exposure Draft, “Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard,” supplements the Exposure Draft published in September 2022. We encourage you to respond directly to the IASB by July 31, 2024, to help shape accounting standards for SMEs.

April 17, 2024

International Activity, News

IASB issues new IFRS® Accounting Standard – IFRS 18 Presentation and Disclosure in Financial Statements

The IASB’s newly issued IFRS Accounting Standard, IFRS 18 Presentation and Disclosure in Financial Statements, aims to improve the usefulness of information presented and disclosed in financial statements. IFRS 18 is effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB will ballot IFRS 18 and complete its endorsement process in Q2 2024. Find out more. 

April 17, 2024

Document for Comment

AASB Consultation Paper – 2026-2029 Strategic Plan

The AASB wants your input on its 2026-2029 Strategic Plan! Complete our survey by June 28, 2024, to provide your views on whether our goals are responsive to the changing environment. Weigh in on what areas will significantly influence the audit and assurance landscape over the next five years and help us set the direction of our work. 

April 15, 2024

International Activity

AcSB Response – Financial Instruments with Characteristics of Equity

On March 28, 2024, the AcSB responded to the IASB’s Exposure Draft, “Financial Instruments with Characteristics of Equity,” issued in November 2023. The AcSB’s letter expressed overall support for the proposed disclosure and financial statement presentation requirements but noted that the classification and measurement proposals do not achieve the IASB’s objectives for the project. Read our letter to find out more! This letter is posted on an external website; if you need an accessible version, please email us at [email protected]