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Volunteer Opportunity – IFRS® Accounting Standards Discussion Group

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Want to help shape the future of global accounting standards? Join the AcSB’s IFRS® Accounting Standards Discussion Group to connect with financial reporting experts, stay ahead of emerging issues, share your expertise, and help inform standard setting in Canada and beyond. Apply by October 30, 2026.

Apply now

 
AcSB Virtual Roundtable – Consultation Paper, “Improvements to Section 4450, Reporting Controlled and Related Entities by Not-for-Profit Organizations”

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How should not-for-profit organizations report their relationships with controlled and related entities? Join the AcSB for a virtual roundtable discussion on its Consultation Paper, Improvements to Section 4450, Reporting Controlled and Related Entities by Not-for-Profit Organizations. Gain insight into the proposed changes, discuss potential impacts on not-for-profit organizations, and share your perspective directly with the Board. Participate in the French session on October 28, 2026, or the English session on October 29, 2026.

Respond now

 
 
AASB Exposure Draft, “Proposed Revisions to the Canadian Auditing Standards for Audit Evidence and Risk Response”

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Don't miss the opportunity to shape Canadian auditing standards. The AASB is seeking feedback on proposed revisions to CAS 330, The Auditor’s Responses to Assessed Risks, CAS 500, Audit Evidence, and CAS 520, Analytical Procedures. This is your opportunity to share your perspective and ensure it is reflected in the final standards. Submit your comments by November 2, 2026.

Respond now

News Listings

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August 3, 2022

Meeting Summary

AASB Decision Summary – July 19, 2022

The Board discussed the process for engaging interested and affected parties on standard setting projects, revisited its 2022-2023 Annual Plan, approved the exposure draft related to Listed Entity/Public Interest Entity, and more. Read the Decision Summary for full details.

August 2, 2022

International Activity, Resource, Guidance

IAASB Quality Management Implementation Resources

The IAASB has issued several resources to assist practitioners in the first-time implementation of new and revised quality management standards. These include guides for ISQM 1, ISQM 2 and ISA 220 (Revised), and a definition of an engagement team fact sheet. Refer to the IAASB’s focus area web page for these and other resources.

August 2, 2022

International Activity, Resource, Other

IFAC Quality Management Panel Discussion

Learn more about the IAASB’s new and revised quality management standards with two on-demand video panel discussions. The International Federation of Accountants created the video panel discussion to support implementation by small and medium-sized practices. The discussions aim to help practitioners design their systems of quality management as Canada adopts the International standards.

August 2, 2022

International Activity

IAASB Proposes Narrow Scope Amendments to Operationalize Changes to the IESBA Code that Enhance Transparency About Independence

The International Auditing and Assurance Standards Board (IAASB) issued its Exposure Draft of narrow scope amendments to ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements, and ISA 260 (Revised), Communication with Those Charged with Governance. Comments are due to the IAASB on October 4, 2022. The AASB is expected to issue its related exposure draft on August 9, 2022.

July 28, 2022

Resource, Article

IFRS 17 Matters for Non-insurance Entities

Did you know that IFRS 17, Insurance Contracts, can apply to insurance contracts issued by non-insurance entities? If not, you are not alone! Check out some helpful resources to learn more about how this Standard might apply to you.

July 20, 2022

News, Article

Appointment – AcSOC selects interim AcSB Chair

The Council is pleased to announce that current Vice-Chair, Armand Capisciolto, FCPA, FCA, will serve as AcSB’s interim Chair from September 1, 2022 to December 31, 2022. Armand will continue in his role with BDO Canada, LLP, while he serves his interim tenure. The permanent AcSB Chair is expected to be announced by the fall.

July 15, 2022

Document for Comment

AcSB Exposure Draft – Revenue – Upfront Non-refundable Fees or Payments

The AcSB wants your feedback on its proposed amendments to Section 3400, Revenue, applicable to private enterprises and not-for-profit organizations. The Board is proposing to defer the effective date of the amendments relating to upfront non-refundable fees or payments to January 1, 2025, while it researches the effects of previously issued amendments. Submit your comments by August 15, 2022.

July 13, 2022

Meeting Summary

PSAB Decision Summary – June 28-29, 2022

The Board discussed the Government Not-for-Profit Strategy, Conceptual Framework & Reporting Model, Employee Benefits, International Strategy, and other matters. Read the Decision Summary for full details.

July 12, 2022

Meeting Summary

AcSB Decision Summary – June 22-23, 2022

The AcSB discussed Contributions, Related Party Combinations, Related Party Transactions, Revenue, Insurance, Crypto-Assets, Sustainability, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

July 11, 2022

Resource, Webinar

Webinar – Learn about the ISSB and its sustainability disclosure Exposure Drafts, and the impacts for Canada

Sustainability standard setting is at a pivotal juncture, with the first draft standards issued for public comment by the ISSB. Watch our 15-minute, on-demand webinar for an overview of the ISSB and their inaugural Exposure Drafts, the different ways you can participate in this consultation period to inform Canada’s response, and how to stay up to date on the latest developments on sustainability standards.