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The Reporting and Assurance Standards Oversight Council and the Standard-setting Boards have released their 2024-2025 Annual Reports, highlighting oversight efforts, standards activity, and engagement that demonstrate transparency and accountability. Read the reports to learn more about their respective years in review.

The AcSB discussed Agriculture, Detailed Review of ASPE, Financial Statement Concepts, Part IV Work Plan Survey, IFRS® Accounting Standards Discussion Group topics, and more. Read the Decision Summary for full details.

PSAB is seeking a new Chair to lead the strategic direction of public sector accounting standards. The Chair plays a pivotal role in guiding the Board’s work, ensuring the integrity and independence of the standard-setting process. Interested candidates should apply by August 22, 2025.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by July 14, 2025, for consideration as a discussion topic at our September 18, 2025, meeting.

The revised CAS 570, Going Concern, issued on June 1, 2025, brings changes to the auditor's expectations for management’s going concern assessment timeline. Read our joint communication with PSAB and the AcSB for details. 

Read our new resource guide, which offers direction on how to adopt a climate-first approach in sustainability reporting under Canadian Sustainability Disclosure Standard (CSDS) 1, General Requirements for Disclosure of Sustainability-related Financial Information, and CSDS 2, Climate-related Disclosures.

PSAB received updates on the Public Sector Accounting Discussion Group’s May 2025 meeting and the Employee Benefits project. The Board approved the 2024-2025 annual improvements to the Public Sector Accounting Standards. Read our decision summary for more details.

On June 19, 2025, the Canadian Sustainability Standards Board (CSSB) met virtually for final deliberations on the feedback from the 2025-2028 Strategic Plan consultation. The CSSB also discussed its response to the International Sustainability Standards Board’s Exposure Draft on amendments to IFRS S2. Lastly, the CSSB discussed the ISSB’s forthcoming project, Enhancing the SASB Standards. For full details, read the decision summary.

The AcSB discussed Rate-regulated Activities, the Post-implementation Review of IFRS 16, Dynamic Risk Management, the IASB Fourth Agenda Consultation, Detailed Review of ASPE, Reporting Controlled and Related Entities, Relief from Recognition of Intangible Assets and Amortization of Goodwill, the FASB Agenda Consultation, Sustainability, the AcSB Strategic Plan, Due Process, and more. Read our Decision Summary for full details.

The AASB approved the revised Canadian Auditing Standard (CAS) 240, The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements and discussed key issues identified from exposure of its Canadian FOFI standard. The Board also discussed a range of international topics, including the Audit Evidence and Risk Response project, and its response to the IAASB’s Use of Experts Exposure Draft. Read our decision summary for full details.