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PSAB reviewed draft amendments to Proposed Section PS 3251, Employee Benefits, the feedback received to the Exposure Draft “Narrow-scope Amendments: SORP-1 Consistency Updates,” the initial survey for the GNFP Contributions and Financial Statement Presentation project, and the timeline for developing its next Strategic Plan. The Board also received updates from recent Indigenous Advisory Group and the Government Not-for-Profit Advisory Group meetings and approved the Post-implementation Review Assessment project proposal for Financial Instruments. Read the full Decision Summary for details!

Are you a Canadian private enterprise, a user of their financial statements, or a practitioner familiar with private enterprise financial reporting? Watch our recorded webinar to learn more about the application issues and proposed solutions discussed in the AcSB’s Consultation Paper, “Detailed Review of Accounting Standards for Private Enterprises.” We also outlined how you can share your views during our comment period. Watch it now and stay up to date with our project!

The Group discussed Application Issues with the Statement of Cash Flows, IFRS 18: Classification of Foreign Exchange Differences, IFRS 18: Classification of Income and Expenses from “Other Assets,” IFRS 19: Subsidiaries Without Public Accountability: Disclosures, IFRS 9: Amendments to the Derecognition of Financial Liabilities and more. Read the meeting report for full details!

The AcSB discussed Rate-regulated Activities, IFRS^® 16 Leases, Reporting Controlled and Related Entities for Not-for-Profits, Agriculture, its Annual Plan, Strategic Plan, Due Process, and more. Read the Decision Summary for full details.

The GNFP Strategy and Implementation Plan Update webinar was held on September 11, 2025. The session covered key amendments to Section PS 3150, Tangible Capital Assets, and the upcoming standard-level combined project, Contributions and Financial Statement Presentation.

This webinar was hosted by Bill Cox, Government Not-For-Profit Advisory Committee Chair; and Amanda Senkowski, Principal, Public Sector Accounting, Standards.

The AcSB has released the Consultation Paper, “Detailed Review of Accounting Standards for Private Enterprises.” It identifies the most complex ASPE requirements, where the cost/benefit threshold is not met, and the issue is pervasive among private entities . We want your feedback to ensure we have a complete picture of the issues within the project’s scope, and that our proposals effectively address your concerns. Submit your comments by January 31, 2026, and help us set our future project priorities.

The AASB met to advance key projects, including Canadian standards such as Compilations of FOFI and Pro Forma, Sustainability Assurance, as well as international projects like Audit Evidence and Risk Response. Read the decision summary for full details.

Read our In Brief on the Consultation Paper, “Detailed Review of Accounting Standards for Private Enterprises.” This Consultation Paper seeks to identify the most complex ASPE requirements, where the AcSB’s cost/benefit threshold is not met, and the issue is pervasive among private entities. We want your feedback to ensure we have a complete picture of the issues you’re facing, and that our proposed solutions are practical and effective. Stay informed and help us set future project priorities!

Tell us what you think! Help shape future AcSB Part IV work plans by taking our new survey on potential topics for inclusion by November 4, 2025. Your feedback will help inform our 2026–2027 annual plan and upcoming strategic plan. 

On August 27, 2025, the CSSB met virtually to discuss the creation of two external advisory committees, the 2025-2028 Strategic Plan and accompanying Feeback Statement, updates on the Indigenous Peoples Priority Committee, and the consultation on the Proposed Enhancements to the SASB Standards. For full details, read the decision summary.