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The Reporting and Assurance Standards Oversight Council and the standard‑setting Boards have released their 2025-2026 Annual Reports, outlining standards activity, engagement, and oversight to demonstrate transparency and accountability. Read the reports to learn more about their respective years in review.

PSAB approved three responses to International Public Sector Accounting Standards Board documents for comment including the proposed changes to International Public Sector Accounting Standard 41 for the derecognition of liabilities. PSAB approved its Exposure Draft, “2026-2027 Annual Improvements,” which details minor revisions to the financial instruments suite of standards, and its Consultation Paper, “Founded on Trust, Ready for the Future: Draft 2027-2032 Strategic Plan.” The Board also analyzed feedback and provided direction on the Intangible Assets, Cloud Computing, and Government Not-for-Profit projects.

The AcSB discussed relief from recognition of intangible assets and amortization of goodwill, reporting controlled and related entities by not-for-profit organizations, and more. Read the decision summary for full details.

The CSSB discussed various topics including, the ISSB’s standard-setting projects on nature-related disclosures and the SASB enhancements. The CSSB approved the appointment of the Chairs of the Sustainability Standards Advisory Committee and the Sustainability Technical and Implementation Advisory Committee. Read the decision summary for full details. 

At its June 2026 meeting, the AASB discussed ongoing international and Canadian standard-setting projects, including Audit Evidence and Risk Response, Targeted Standards in the International Standard on Auditing 500 series, Technology Quality Management Workstream, and ongoing activities to support audits of less complex entities in Canada. Read the decision summary for full details.

How do new or amended IFRS^® Accounting Standards make their way into the CPA Canada Handbook – Accounting? Find out via this overview of the due process activities we completed in support of changes made to Part I of the Handbook in 2025.

The Group discussed the application of Section PS 1202, Financial Statement Presentation, and the International Public Sector Accounting Standards Board’s Exposure Draft 97, IPSAS Practice Statement, Making Materiality Judgements. Read the meeting report for full details. 

Are you a Canadian private enterprise, not-for-profit organization, pension plan, an advisor to one, or a user of their financial statements? Watch this recording to learn about current accounting standards projects and recent amendments in Parts II, III, and IV of the CPA Canada Handbook – Accounting.

The AcSB wants your input on its 2027-2032 Draft Strategic Plan! Our proposed strategies focus on fostering meaningful engagement, delivering high-quality accounting standards, supporting effective implementation and application, and expanding international influence. Share your views and help us shape our strategic direction for the next five years!

The AcSB discussed Financial Statement Concepts, Reporting Controlled and Related Entities, Contributions, and more. Read the decision summary for full details.