Top Stories

PSAB has issued the Re-exposure Draft, “Employee Benefits, Proposed Section PS 3251.” This Re-exposure Draft focuses on amendments to previously exposed discount rate principles for defined benefit plans. Read our In Brief to learn more about the proposals and how you can provide your input.

The AcSB discussed the Equity Method, Related Party Combinations, Climate-related and Other Uncertainties in Financial Statements, the Annual Plan, and more. Read the Decision Summary for full details.

The IAASB approved International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. Find out what’s next for sustainability assurance in Canada.  

The AcSB continues to explore the impact of climate change on businesses and ASPE financial statements. In this second installment, we focus on topics such as property, plant, and equipment, impairment of long-lived assets, and contingent liabilities. This awareness series is designed to help organizations navigate climate-related matters using ASPE.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by October 11, 2024, for consideration as a discussion topic at our December 3, 2024, meeting.

On October 1 and 4, 2024, the Canadian Sustainability Standards Board (CSSB) met virtually to provide final approval on the Feedback Statement and the Basis for Conclusions for Canadian Sustainability Disclosure Standards 1 and 2, as well as on the CSSB Strategic Plan.

Volunteer Opportunity – Field-test Selected Requirements in the AASB’s Exposure Draft, “Proposed Canadian Standard on Related Services (CSRS) 4250, Compilation Engagements on Future-oriented Financial Information and Pro Forma”

Calling all practitioners! We need your expertise to shape the future of CSRS 4250. Join us in field-testing selected requirements from our new Exposure Draft. Your insights are crucial as we determine whether our proposals are both implementable and understandable. Be part of the standard’s development and help us ensure we meet your needs. Don't miss your opportunity to contribute! Register by October 18, 2024, to make your voice heard.

Our new Exposure Draft, “Proposed CSRS 4250, Compilation Engagements on Future-oriented Financial Information and Pro Forma,” is out now, and we want to hear your views! Your feedback is integral to our consultation process and will help us determine the next steps as we advance our project. Don’t miss your opportunity to have your voice heard. Respond to our proposals by January 7, 2025.

PSAB discussed topics such as the Government Not-for-Profit Capital Assets project, Intangible Assets project, International Public Sector Accounting Standards Board update, generally accepted accounting principle designations in the Public Sector Accounting Handbook Appendices, and more. Read the Decision Summary for full details.

The AcSB discussed Relief from Recognition of Intangible Assets, and Amortization of Goodwill, Contributions, Agriculture, Related Party Combinations, Detailed Review of ASPE, Climate-related and Other Uncertainties in the Financial Statements, Reporting Controlled and Related Entities, Part IV priorities, and more. Read the Decision Summary for full details.