News Listings

PSAB is embarking on its Future Work Plan Consultation to gather input on the projects it should take on, to help fulfill the strategies identified in its Strategic Plan 2022-2027. Read the Consultation Paper and provide your input via our Survey.

AcSOC and AASOC formulated their response to the ISSB’s “Climate-related Disclosures” Exposure Draft, using feedback gathered from an extensive cross-section of Canadian stakeholders through various forums. Read our comment letter for Canada’s response to the proposed objective of the Exposure Draft, requirements for identifying climate-related risks and opportunities, scenario analysis, transition plans and carbon offsets and more.

AcSOC and AASOC formulated their response to the ISSB’s “General Sustainability-related Disclosures” Exposure Draft, using feedback gathered from an extensive cross-section of Canadian stakeholders through various forums. Read our comment letter for Canada’s response to the Exposure Draft which includes feedback to issues such as: the overall approach to sustainability-related risks and opportunities disclosure, objectives and definition of sustainability-related financial information, materiality, global baseline, frequency of reporting, and more.

The AcSB discussed Contributions, Cloud Computing Arrangements, Pension Plans, Sustainability, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

PSAB wants your feedback on Exposure Draft – 2022-2023 Annual Improvements to Public Sector Accounting Standards, which outlines the proposed amendments to the CPA Canada Public Sector Accounting (PSA) Handbook or Statements of Recommended Practices (other guidance). Submit your comments by October 11, 2022.

Share your views on the AASB Exposure Draft – Proposed Narrow-scope Amendments to CAS 700, Forming an Opinion and Reporting on Financial Statements, and CAS 260, Communication with Those Charged with Governance. Submit your comments by September 16, 2022. For full details, visit the Document for Comment page.

The Board discussed the process for engaging interested and affected parties on standard setting projects, revisited its 2022-2023 Annual Plan, approved the exposure draft related to Listed Entity/Public Interest Entity, and more. Read the Decision Summary for full details.

The IAASB has issued several resources to assist practitioners in the first-time implementation of new and revised quality management standards. These include guides for ISQM 1, ISQM 2 and ISA 220 (Revised), and a definition of an engagement team fact sheet. Refer to the IAASB’s focus area web page for these and other resources.

Learn more about the IAASB’s new and revised quality management standards with two on-demand video panel discussions. The International Federation of Accountants created the video panel discussion to support implementation by small and medium-sized practices. The discussions aim to help practitioners design their systems of quality management as Canada adopts the International standards.

The International Auditing and Assurance Standards Board (IAASB) issued its Exposure Draft of narrow scope amendments to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance. Comments are due to the IAASB on October 4, 2022. The AASB is expected to issue its related exposure draft on August 9, 2022.