Top Stories

At its May 19, 2022, meeting, the Group discussed Special Purpose Acquisition Companies (SPAC): Accounting for Warrants at Acquisition, Financial Reporting Considerations of Hybrid Work Arrangements, IFRS 17: Matters for Non-insurance Entities, and more. Read the meeting report for full details.

As the pace of progress in sustainability disclosures continues to accelerate, the Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) mutually approved the formation of the Canadian Sustainability Standards Board (CSSB). Read the media release to learn more about what this means for Canada.

This past year saw continued global challenges with impacts on standard-setting in Canada. Both AASOC and the AASB strived to remain agile and efficient in the changing landscape. Read our 2021-2022 Annual Report to learn more about the work we did, including our oversight of the AASB.

Over the past year, AcSOC remained flexible as we anticipated new challenges. Moving forward, AcSOC will build a future together with its stakeholders, based on our learnings from the past. Read our 2021-2022 Annual Report to learn more about the work we did, including our oversight of the AcSB and PSAB.

The AcSB discussed IFRS Interpretations Committee’s Tentative Agenda Decisions, Contributions, Revenue, Insurance and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

Financial Reporting & Assurance Standards Canada is embarking on a consultation project to solicit feedback from Canadians on the ISSB’s Exposure Draft, “IFRS S2 Climate-related Disclosures.” Take part in our short, online surveys to easily share your comments with us.

Your feedback will inform the response letter sent to the ISSB by Canada’s standard-setting oversight councils. Ensuring Canadian perspectives are heard by the ISSB helps to ensure our country’s unique issues and perspectives are considered before a final standard is issued.

Financial Reporting & Assurance Standards Canada is embarking on a consultation project to solicit feedback from Canadians on the ISSB’s Exposure Draft, “IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information.” Take part in our short, online surveys to easily share your comments with us.

Your feedback will inform the response letter sent to the ISSB by Canada’s standard-setting oversight councils. Ensuring Canadian perspectives are heard by the ISSB helps to ensure our country’s unique issues and perspectives are considered before a final standard is issued.

How do new or amended IFRS^® 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 2021.

Long-time Canadian Accounting Standards Board (AcSB) Chair Linda Mezon-Hutter, FCPA, FCA, CPA (MI), CGMA will be joining the International Accounting Standards Board (IASB) as a member in September 2022. Read the media announcement.

As the second year of the pandemic continued, the AASB forged ahead with its standard setting initiatives. The Board’s dedication to standard-setting and serving the public interest was demonstrated through its robust performance and achievement of this year’s Annual Plan. Read about the AASB’s 2021-2022 activities and accomplishments in this year’s Annual Report.