News Listings

The IASB issued narrow-scope amendments to the classification and measurement requirements in IFRS 9 Financial Instruments. The amendments clarify the classification of financial assets with environmental, social, corporate governance and similar features, and address concerns raised regarding the settlement of liabilities through electronic payment systems. They are effective for annual reporting periods beginning on or after January 1, 2026, with earlier application permitted. 

The AcSB will ballot the amendments and complete its endorsement process in Q3 2024. Find out more. 

Become a member of the Auditing and Assurance Standards Board. Contribute to Canadian standards, gain professional insights, and engage with a diverse community. Apply by September 13, 2024.

Become a member of the Public Sector Accounting Board. Contribute to Canadian standards, gain professional insights, and engage with a diverse community. Apply by September 13, 2024.

Become a member of the Accounting Standards Board. Contribute to Canadian standards, gain professional insights, and engage with a diverse community. Apply by September 13, 2024.

The IFRS Accounting Standards Discussion Group invites you to share  the challenges you face when applying IFRS Accounting Standards. Submit your issue by July 16, 2024, for consideration as a discussion topic at our September 12, 2024, meeting.

The Independence Standing Committee’s (ISC) Exposure Draft outlines its proposals to revise the definition of “public interest entity” (PIE) in the Canadian Independence Standards (CIS), to align more closely with the IESBA Code. Final changes to the CIS may impact our Listed Entity and PIE project. Respond directly to the ISC by September 30, 2024, and have your say.

The AcSB discussed Contributions, Business Combinations – Disclosures, Goodwill and Impairment, Intangibles, Insurance Contracts with Cash Surrender Value, Climate-related and Other Uncertainties in the Financial Statements, and more. Read the Decision Summary for full details.

The IASB’s newly issued IFRS Accounting Standard, IFRS 19 Subsidiaries without Public Accountability: Disclosures, permits eligible subsidiaries to use IFRS Accounting Standards with reduced disclosures. IFRS 19 is effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The AcSB will ballot IFRS 19 and complete its endorsement process in Q2 2024. Find out more.

The AASB discussed the IAASB’s topics: Going Concern, Listed Entity/Public Interest Entity Track 2, Sustainability Assurance, and Technology Position. It discussed Canadian topics: Audits of Less Complex Entities and Compilations of Future-oriented Financial Information. Read the decision summary for full details.

The Group discussed Asset Retirement Obligations: Exploration of Potential Application Issues, Application of GAAP Hierarchy – Operating Leases, Lessee Accounting Treatment, and more. Read the meeting report for full details.