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Canada’s first proposed Canadian Sustainability Disclosure Standards (CSDS) are out for public comment until June 10, 2024. Exposure Drafts on CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information, and CSDS 2, Climate-related Disclosures align with the 2023-released IFRS S1 and S2 global baselines, with modifications introduced to align with Canadian-specific needs. Also out for comment is a paper discussing how the CSSB proposes to introduce changes, if required, to IFRS Sustainability Disclosure Standards for use in Canada. The Board will be offering a variety of ways to take part in the consultation, ensuring a wide range of perspectives are considered before finalizing the proposals.

The CSSB has issued two Exposure Drafts, “CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information,” and “CSDS 2, Climate-related Disclosures.” This webpage provides a plain and simple overview of the Exposure Drafts and ways you can provide your input.

What You Need to Know about Changes to the Fraud Audit Standard

Short on time but want to know about our proposed changes to the fraud audit standard? Find out how our proposals will impact you as an auditor, management, or a user of financial information. Read more about key changes to the standard.

Share your views on the AASB’s Exposure Draft, “Proposed Amendments to CAS 240, The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements.” Read more about the proposed standard and related conforming and consequential amendments. Respond to our Exposure Draft by May 6, 2024, and have your say! 

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by March 15, 2024, for consideration as a discussion topic at our May 14, 2024, meeting.

The AASB issued an Exposure Draft proposing not to adopt at this time the International Auditing and Assurance Standards Board (IAASB)’s proposed narrow-scope amendments. The IAASB’s proposal stems from revisions to the definitions of listed entities and public interest entities in the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (Including Independence Standards). We welcome your feedback on this Exposure Draft. Submit your comments by April 8, 2024, and tell us what you think. 

The Accounting Standards Oversight Council met on February 27, 2024, to discuss the Public Sector Accounting Board’s and the Accounting Standard Board’s activities and related matters. Read the full report for more information.

Watch these on-demand webinars for an overview of PSAB’s new Conceptual Framework and Reporting Model, including how you can start preparing for implementation.

Watch a recording of our February 1, 2024, webinar to learn more about key proposals in PSAB’s Exposure Draft, “Tangible Capital Assets, Proposed Amendments to Section PS 3150.” Viewing this webinar and successful completion of the quiz may count towards your CPD requirements.

The International Public Sector Accounting Standards Board (IPSASB) released two Exposure Drafts to address the lack of guidance on specific activities related to mineral resources: ED 86, Exploration for and Evaluation of Mineral Resources; and ED 87, Stripping costs in the Production Phase of a Surface Mine (Amendments to IPSAS 12). To ensure Canadian perspectives are considered, and future standards serve the Canadian public interest, we encourage you to respond to these Exposure Drafts if they are relevant to your entity or clients. Submit your comments directly to IPSASB by May 31, 2024.