News Listings

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. 

The Board discussed Business Combinations under Common Control, Management Commentary, Rate Regulated Activities, Sustainability, Cloud Computing, Interest Benchmark (IBOR) Reform, COVID-19-Related Rent Concessions, Pension Plans, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives. 

As Canada moves through the third wave of COVID-19 with the hope that comes with vaccinations and economic re-opening, we in standard setting have also been progressing in new areas and initiatives. From sustainability standards to strategic planning, read this statement from our Board Chairs about what we’ve been up to and what’s to come this year.

The AASB issued an Exposure Draft proposing conforming amendments to Other Canadian Standards to avoid inconsistencies with the new and revised quality management standards. Submit your comments by September 30, 2021. 

The AASB’s 2022-2025 Strategic Plan considers our changing environment – with a focus on understanding and responding to the related emerging issues and needs of our stakeholders. Key areas of our new Strategic Plan include: addressing the needs of less complex entities, the impact of new technologies, and continuing our prioritization of enhancing stakeholder engagement to develop solutions together.