News Listings

Learn how the AcSB developed and approved its 2022-2027 Strategic Plan – including conclusions reached on the significant comments received during our consultation process.

At the March 7-8, 2022, Board meeting, the AASB approved CAS 600, Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors), subject to the PIOB’s due process approval. The PIOB has now confirmed due process for ISA 600 (revised) and the IAASB has released ISA 600 (revised). CAS 600 will become effective for audits of group financial statements for periods beginning on or after December 15, 2023. CAS 600 is anticipated to be issued in the Handbook in August 2022.

The Board released its 2022-2027 Strategic Plan after extensive consultation with stakeholders. Read this document for the key strategic objectives that will guide PSAB over the next five years.

The Board discussed the Government Not-for-Profit Strategy, 2022-2027 Draft Strategic Plan, Conceptual Framework, PSAB project consultation and other matters. Read the Decision Summary for full details.

The Board released its Feedback Statement for the Draft 2022-2027 Strategic Plan Consultation Paper, which provides an overview of key feedback received by stakeholders and how PSAB responded.

PSAB worked on multiple key projects and strategies in 2021-2022, while meeting the needs of stakeholders and responding effectively to challenges. Read about the Board’s 2021-2022 activities and accomplishments in this year’s Annual Report.

This Annual Plan sets out the Board’s key activities and project milestones in 2022-2023. Read the plan for details of how PSAB will work with its stakeholders to meet the objectives of the Strategic Plan.

Read our In Brief for an overview of Exposure Draft, Customer’s Accounting for Cloud Computing Arrangements. The proposals aim to simplify the accounting for cloud computing arrangements while ensuring entities can provide relevant information to their users. Share your feedback by attending our virtual roundtable on June 1 or June 7, and by submitting a comment by June 20, 2022. 

The Board discussed Related Party Combinations, Cloud Computing Arrangements, Contributions, Financial Statement Concepts, the AcSB’s Annual Plan, Sustainability Reporting, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The AASB approved Quality Management – Conforming Amendments and CAS 600, Special Considerations – Audits of Group Financial Statements (including the work of Component Auditors) and the related conforming amendments. The Board also provided IAASB members with input from Canada on issues related to Audit Evidence, Fraud, Going Concern, and Listed Entity and Public Interest Entity. The Board approved its 2022-2023 Annual Plan and its 2021-2022 Performance Assessment. Read the summary for more details!