News Listings

Private and public institutions across the country have come together to offer Canada as the global headquarters for the new International Sustainability Standards Board (ISSB). The offer was facilitated by CPA Canada and formally submitted by the Government of Canada to the IFRS Foundation this week, backed by organizations such as pension funds, financial institutions, securities regulators, a leading First Nations organization, accounting firms, insurance companies, and other large Canadian companies, along with the support of the country’s six largest municipalities and a broad cross-sector of Canada’s leading business, academic, and environmental stakeholder organizations. 

PSAB issued Exposure Draft – “Employee Benefits, Proposed Section 3251,” which outlines principles for the first of several phases of the revised employee benefits standard. In this first phase, the Board focused on discount rate guidance and deferral provisions. 

We want your feedback to our Exposure Draft – respond by November 25, 2021!

Read PSAB’s plain and simple overview of our Exposure Draft, “Employee Benefits, Proposed Section PS 3251.” The first phase of this multi-phase standard focuses on discount rate guidance and deferral provisions. Learn more about our key proposals and submit your comments on the Exposure Draft by November 25, 2021! 

What do you think about the IASB’s proposal for a reduced disclosure IFRS Standard that would apply on a voluntary basis to subsidiaries that are SMEs and do not have public accountability? The IASB issued an Exposure Draft relating to its Disclosure Initiative—Subsidiaries without Public Accountability: Disclosures project. Have your say by January 31, 2022.

Learn how the AASB developed and approved its Strategic Plan 2022-2025 – including conclusions reached on the significant comments received. 

The AASB has recruited members for the Compilations of Future-oriented Financial Information  (FOFI) Reference Group. The Compilations of FOFI Reference Group will assist the AASB as it develops a new Canadian Standard on Related Services (CSRS) to replace current Assurance and Related Services Guideline (AuG)-16, Compilation of a Financial Forecast or Projection.

The Council met on May 18, 2021 to discuss the activities of the AASB and related matters. Read the full report for more information. 

The AASB discussed issues related to the IAASB’s project on audit evidence and fraud. The Board also reviewed a draft Canadian discussion paper on audits of less complex entities.

PSAB has received a significant number of response letters to two Exposure Drafts that closed for comment on June 30, 2021 as part of our current Concepts Underlying Financial Performance project.

The Council met on April 26, 2021 to receive an update on the Independent Review Committee of Standard Setting. Read the full report for more information.