News Listings

The amendment, which defers the effective date of Classification of Liabilities as Current or Non-current (Amendments to IAS 1) by one year, is now in Part I of the CPA Canada Handbook. The amendments to IAS 1 are effective for annual reporting periods beginning on or after January 1, 2023. Earlier application is permitted.

At its recent meeting, the Board discussed Public Private Partnerships, Employment Benefits, and the International Strategy. Read the Decision Summary for full details.

At its recent meeting, the Board discussed Purchased Intangibles, Government Not-for-Profit Strategy, and the revised 2020-2021 Annual Plan. Read the Decision Summary for full details.

At its recent meeting, the Board discussed the Conceptual Framework and Financial Reporting Model. Read the Decision Summary for full details.

Connect.FRASCanada.ca is our new online community platform. It’s an easy-to-use way to give your feedback on new or amended standards, take part in post-implementation reviews, or submit issues for discussion at a committee meeting.

The Group discussed topics such as the impact that COVID-19 may have on an entity’s income statement presentation and application issues associated with the amendments on IAS 1 to classify a term loan as current or non-current. Read the full Meeting Report for helpful tips on these and other topics.

The Council met to receive an update on the impact of COVID-19 on the Board’s activities. The Council also discussed and concluded that the Board followed due process with proper regard for the public interest in developing and approving AuG-50.  Read the full report for more information.

You asked. We listened. Many of the enhancements to the auditor reporting standards were made in response to input from financial statements users. Now that the standards are in effect, we want users to tell us their views. Participate in our new online community platform, Connect.FRASCanada.ca, to easily give your feedback via quick polls, short surveys and even an open idea forum.

The Board discussed topics such as Primary Financial Statements, Combinations, Cloud Computing – plus much more. Read the Decision Summary for full details.

This document sets out how the Board reached its decision to pursue Option 2: Adapt IPSAS principles when developing future standards as its future International Strategy. Read the Basis for Conclusions for full details.