News Listings

The AASB discussed the anticipated IAASB exposure draft of a proposed standard for Audits of Less Complex Entities and the way forward in Canada. The Board also reviewed a first draft of its 2021-2022 Annual Plan and discussed input received from stakeholders on its Draft 2022-2025 Strategic Plan.

The Board discussed the Post Implementation Review of IFRS 10, 11, and 12, Insurance Contracts, AcSB’s Strategic Plan, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives. 

The AcSB has issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Stakeholders are encouraged to submit their comments by October 21, 2021.

The IASB has issued an Exposure Draft to amend IAS 21. The proposed amendments aim to help companies determine whether a currency can be exchanged into another currency, and what accounting to apply if the currency cannot be exchanged. Canadian stakeholders are encouraged to submit their comments to the IASB by September 1, 2021.

The response deadlines of five key documents for comment related to the PSAB’s proposed new Conceptual Framework, Reporting Model, and Government Not-for-Profit Strategy have been extended to June 30, 2021. We encourage stakeholders to use this additional time to share feedback and help shape the future of public sector accounting standards for years to come!

This Annual Plan sets out the Board’s key activities and project milestones in 2021-2022, helping to achieve the objectives in the last year of its strategic plan. Read the plan for full details.

The Board discussed the Post Implementation Review of IFRS 10, 11, and 12, IBOR Reform, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

IASB Exposure Draft – Disclosure Requirements in IFRS Standards – A Pilot Approach

The IASB issued an Exposure Draft proposing guidance on developing and drafting disclosure requirements for IFRS Standards in the future. The document includes also amendments to the disclosure section of IFRS 13 Fair Value Measurement and IAS 19 Employee Benefits. Canadian stakeholders are encouraged to submit their comments to the IASB by October 21, 2021.

The AcSB wants to hear your feedback on the IASB Request for Information on the Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. Easily respond to key proposals by completing a quick poll or survey on Connect.FRASCanada.ca. Help the AcSB represent Canadian views in our response to the IASB!

The AcSB wants to hear your feedback on the IASB Request for Information on the Post-implementation Review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. Easily respond to key proposals by completing a quick poll or survey on Connect.FRASCanada.ca. Help the AcSB represent Canadian views in our response to the IASB!