News Listings

The AcSB discussed the Detailed Review of ASPE project, Guidance Framework topics, Contributions, and more. Read the decision summary for full details.

At its March 11–12, 2026, meeting, PSAB approved projects to amend Section PS 2120, Accounting Changes, and to adapt IPSAS 21 Impairment of Non-Cash Generating Assets for the Canadian public sector. The Board also concluded that a post‑implementation review of the Financial Instruments suite of standards is not required and discussed key updates across several other ongoing projects and advisory groups. Read the decision summary for full details.

At its March meeting, the AASB approved two new Canadian standards: CSRS 4250, Compilation Engagements on Future-oriented Financial Information (FOFI) and Pro Forma, and CSSA 5000, General Requirements for Sustainability Assurance Engagements. The Board also approved its 2025–2026 Performance Assessment and 2026–2027 Annual Plan and discussed several significant standard-setting initiatives currently underway. Read the decision summary for full details.

The Accounting Standards Board (AcSB) issued its Exposure Draft that corresponds to the International Accounting Standards Board’s Exposure Draft on this topic. If you would like your feedback considered prior to the AcSB finalizing its comment letter, please respond by March 27, 2026.

The AcSB has endorsed amendments to illustrative examples in IFRS 7 Financial Instruments: Disclosures, IFRS 18 Presentation and Disclosure in Financial Statements, IAS 1 Presentation of Financial Statements, IAS 8 Basis of Preparation of Financial Statements, IAS 36 Impairment of Assets, and IAS 37 Provisions, Contingent Liabilities and Contingent Assets that clarify how entities disclose uncertainties in the financial statements. The examples use climate-related scenarios as practical illustrations, but the underlying principles apply more broadly to all uncertainties. The amendments are now in Part I of the CPA Canada Handbook – IFRS^® Accounting Standards. The illustrative examples do not have an effective date because they support, but are not part of, IFRS Accounting Standards.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by March 6, 2026, for consideration as a discussion topic at our May 12, 2026, meeting.

The AcSB discussed the Risk Mitigation Accounting project, Guidance Framework topics including Cloud Computing and Agriculture, and more. Read the decision summary for full details.

The amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates specify the translation procedures for an entity whose presentation currency is that of a hyperinflationary economy. The amendments are now in Part I of the CPA Canada Handbook. They are effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The Auditing and Assurance Standards Board has summarized feedback on its Re-exposure Draft on Indigenous Matters in CSSA 5000. The summary highlights who we heard from, what themes stood out in the feedback, and how these perspectives are guiding the next steps. Read the summary for more details.

The Accounting Standards Board (AcSB) issued its Exposure Draft. “Risk Mitigation Accounting,” which corresponds to the International Accounting Standards Board’s Exposure Draft on this topic. If you would like your feedback considered before the AcSB finalizes its comment letter, please respond by June 15, 2026.