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The AcSB wants your feedback on its proposed amendments to Section 3840, Related Party Transactions. These proposed narrow-scope amendments address accounting for a combination between enterprises or businesses under common control. Submit your comments by February 14, 2025. 

The AcSB discussed Subsequent Measurement of Goodwill and Acquired Intangibles, Equity Method, Detailed Review of ASPE, Agriculture and Inventories, its Annual Plan, and more. Read the Decision Summary for full details. 

PSAB approved the exposure draft for Proposed Section PS 3155, Intangible Assets, including the accompanying Basis for Conclusions and various consequential amendments. The exposure draft is expected to be released for comment between late February and early March 2025, with a 90-day comment period.

PSAB also approved the issuance of two cloud computing surveys, one that is developed for the preparer community and one that is developed for other practitioners, such as auditors and/or consultants. These surveys were developed to gather information on cloud computing arrangements in the Canadian public sector and will help inform the development of PSAB’s cloud computing guideline. These surveys are expected to be released for comment between late February and early March 2025, with a 90-day comment period.

PSAB discussed the Indigenous Advisory Group, Annual Improvements, Government Not-for-Profit projects, the 2024-2025 Performance Report and 2025-2026 Annual Plan, Public Sector Accounting Discussion Group, Statement of Recommended Practice 1, Financial Statement Discussion & Analysis, and the Intangible Assets Project and more. Read the Decision Summary for full details.

The Group discussed Accounting for Debt Modifications, Year-end Financial Reporting Reminders, and more. Read the meeting report for full details!

The AASB discussed IAASB’s topics on Fraud, Going Concern, Integrated Project, Listed Entity/Public Interest Entity Track-2, Integrated Project, and Technology Gap Analysis. The Board also discussed Canadian projects on Sustainability Assurance and Emerging Issues. Read the decision summary for more.

The Group discussed the International Public Sector Accounting Standards Board’s 2024-2028 Strategy and Work Program, its Exposure Draft 92, “Tangible Natural Resources,” and its Sustainability Reporting Standards Exposure Draft 1, “Climate-related Disclosures.”

The Canadian Sustainability Standards Board (CSSB) is proud to release Indigenous Matters: What We Heard. This document acknowledges Indigenous participation and feedback related to Indigenous matters during the public consultation on Canada’s first sustainability disclosure standards in 2024. It also reinforces the CSSB’s commitment to building new pathways to support integrating Indigenous perspectives into the standard-setting process.

On November 27-28, 2024, the CSSB met virtually to discuss its 2025-2026 Annal Plan, confer about educational guidance for Canadian Sustainability Disclosure Standard (CSDS) 1 and CSDS 2, approve the final 2025-2028 Strategic Plan consultation paper, and to engage in an Indigenous Peoples education session about Métis peoples in Canada.  

The AcSB discussed Subsequent Measurement of Goodwill and Acquired Intangibles, Contributions, Financial Statement Concepts, Improvements to Presentation and Disclosure of Investments for Pension Plans, and more. Read the Decision Summary for full details.