News Listings

What challenges and opportunities lie ahead for financial reporting? In two panel discussions hosted by the AcSB on June 3, 2026, standard setters, regulators, preparers, and users shared perspectives on implementing IFRS 18 Presentation and Disclosure in Financial Statements and the evolving future of corporate reporting. Key themes included improving comparability, the role of management-defined performance measures, technology's impact on reporting, and the importance of balancing innovation with stability. Read our article for key takeaways and access the on-demand recordings and transcripts for full details on the sessions.

The AcSB discussed Detailed Review of Accounting Standards for Public Enterprises, Guidance Framework, Package of Minor Amendments, and Derecognition of Financial Liabilities. Read the decision summary for full details.

RASOC is pleased to announce appointments for the AASB, and PSAB. Read the appointments page 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 July 17, 2026, for consideration as a discussion topic at our September 17, 2026, meeting.

The Public Sector Accounting Discussion Group wants to hear about emerging issues or CPA Canada Public Sector Accounting (PSA) Handbook application issues encountered when applying Public Sector Accounting Standards. Submit an issue for consideration by August 7, 2026.

The Board approved CSRS 4250, Compilation Engagements on Future-oriented Financial Information and Pro Forma, at its March 9–10, 2026, meeting. The new standard replaces AuG-16, Compilation of a Financial Forecast or Projection, and is effective for compilation engagement reports dated on or after July 1, 2028. It was issued in the CPA Canada Handbook – Assurance on June 19, 2026. Read more about the project.

The Reporting and Assurance Standards Oversight Council and the standard‑setting Boards have released their 2025-2026 Annual Reports, outlining standards activity, engagement, and oversight to demonstrate transparency and accountability. Read the reports to learn more about their respective years in review.

PSAB approved three responses to International Public Sector Accounting Standards Board documents for comment including the proposed changes to International Public Sector Accounting Standard 41 for the derecognition of liabilities. PSAB approved its Exposure Draft, “2026-2027 Annual Improvements,” which details minor revisions to the financial instruments suite of standards, and its Consultation Paper, “Founded on Trust, Ready for the Future: Draft 2027-2032 Strategic Plan.” The Board also analyzed feedback and provided direction on the Intangible Assets, Cloud Computing, and Government Not-for-Profit projects.

The AcSB discussed relief from recognition of intangible assets and amortization of goodwill, reporting controlled and related entities by not-for-profit organizations, and more. Read the decision summary for full details.

At its June 2026 meeting, the AASB discussed ongoing international and Canadian standard-setting projects, including Audit Evidence and Risk Response, Targeted Standards in the International Standard on Auditing 500 series, Technology Quality Management Workstream, and ongoing activities to support audits of less complex entities in Canada. Read the decision summary for full details.