News Listings

The AASB approved several key projects: the  revised Canadian Auditing Standard 570, Going Concern; a re-exposure draft for Canadian amendments in CSSA 5000, General Requirements for Sustainability Assurance Engagements, on Indigenous matters; and its 2026-2029 Strategic Plan. The Board also discussed Audit Evidence & Risk Response and Fraud. Read the Decision Summary for full details. 

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by March 14, 2025, for consideration as a discussion topic at our May 14, 2025, meeting.

PSAB has issued the Exposure Draft, “Intangible Assets, Proposed Section PS 3155,” which provides foundational guidance on accounting for intangible assets. We developed the proposed new standard using PSAB’s International Strategy and guidance provided in the IPSAS 31, Intangible Assets. Help shape the future of public sector accounting by sharing your feedback on how our proposals might affect your organization. Your input is crucial to the success of our consultation. Respond by May 30, 2025.  

Learn more about PSAB’s Exposure Draft, “Intangible Assets, Proposed Section PS 3155,” which is now out for comment. This resource covers key proposals and proposed modifications to IPSAS 31, Intangible Assets. It outlines how we aim to leverage international guidance to develop a standard that will work for the unique needs of Canadian public sector organizations. Read our In Brief and stay up to date on this important project!

The Medium and Small Practitioners Advisory Committee held a meeting on January 29, 2025, and discussed Financial Statement Concepts, the Detailed Review of ASPE, and more. Read the meeting notes for full details!

PSAB discussed responses to IPSASB’s Exposure Draft 92, “Tangible Natural Resources,” and Sustainability Reporting Standard Exposure Draft 1, “Climate-related Disclosures.” Read the Decision Summary for full details.

On February 19-20, 2025, the Canadian Sustainability Standards Board met in Montreal to discuss market questions and outreach activities; external environment considerations; the International Sustainability Standards Board’s guidance; the forthcoming Climate-first Guide, and more. For full details, read the decision summary.

The AcSB discussed Provisions – Targeted Improvements, Relief from Recognition of Intangible Assets and Amortization of Goodwill, the Preface, and more. Read the Decision Summary for full details.

The AcSB is exploring the potential impacts of climate change on businesses and financial reporting under Accounting Standards for Private Enterprises (ASPE).

In this third installment, we dive into climate-related factors and its potential impacts on financial instruments, including fair value measurement, as well as consolidation and control.

This ongoing series equips organizations with the insights needed to navigate climate-related matters—and financial reporting under ASPE.

The AcSB discussed Agriculture, Pension Plans, its Annual and Strategic Plans, and more. Read the Decision Summary for full details.