News Listings

PSAB received updates on the Public Sector Accounting Discussion Group’s May 2025 meeting and the Employee Benefits project. The Board approved the 2024-2025 annual improvements to the Public Sector Accounting Standards. Read our decision summary for more details.

The AcSB discussed Rate-regulated Activities, the Post-implementation Review of IFRS 16, Dynamic Risk Management, the IASB Fourth Agenda Consultation, Detailed Review of ASPE, Reporting Controlled and Related Entities, Relief from Recognition of Intangible Assets and Amortization of Goodwill, the FASB Agenda Consultation, Sustainability, the AcSB Strategic Plan, Due Process, and more. Read our Decision Summary for full details.

The AASB approved the revised Canadian Auditing Standard (CAS) 240, The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements and discussed key issues identified from exposure of its Canadian FOFI standard. The Board also discussed a range of international topics, including the Audit Evidence and Risk Response project, and its response to the IAASB’s Use of Experts Exposure Draft. Read our decision summary for full details.

How do new or amended IFRS® Accounting Standards make their way into the CPA Canada Handbook – Accounting? Find out via this overview of the due process activities we completed in support of changes made to Part I of the Handbook in 2024.

On May 28-29, 2025, the CSSB met in-person in Calgary, Alberta, to discuss updates on the proposed 2025-2028 Strategic Plan consultation, Governance Committee activities, and a response to the ISSB’s proposed amendments to IFRS S2, Climate-related Disclosures. For full details, read the decision summary.

Share your views on our new Exposure Draft, “Proposed Narrow-scope Amendments Related to the IAASB’s Using the Work of an External Expert Project.” Read more about the proposals and respond by July 24, 2025.

Are you a Canadian private enterprise, not-for-profit organization, pension plan, an advisor to one, or a user of their financial statements? Watch this on-demand webinar to learn about current accounting standards projects and recent amendments in Parts II, III, and IV of the CPA Canada Handbook – Accounting.

PSAB has issued the Exposure Draft, “Narrow-scope Amendment, SORP-1 Consistency Updates.” Our proposed narrow-scope amendments intend to fix any inconsistencies between existing SORP -1 and the new Conceptual Framework and Reporting Model; provide guidance for new Conceptual Framework and Reporting Model concepts and principles; and update SORP-1 terminology to promote consistency and inclusivity in the CPA Canada Public Sector Accounting Handbook. Submit your feedback by July 24, 2025.

The Public Sector Accounting Discussion Group discussed PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155” and Accounting for Cryptocurrency. Read the meeting report for full details.

Read the project summary for the AcSB's Evaluating the Preface project to learn more about our research findings and why we decided to conclude our work on this project.