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Share your views on the joint Exposure Draft – Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors, issued by the AASB and the Canadian Actuarial Standards Board. Submit your comments by September 19, 2022!

Read our In Brief for an overview of the Exposure Draft, Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors. You can share your feedback on this joint Exposure Draft by the AASB and the Canadian Actuarial Standards Board by September 19, 2022. 

At its May 2022 meeting, the Group discussed International Public Sector Accounting Standards Board’s (IPSASB) Consultation Paper on Sustainability Reporting, Climate-related Issues including considerations under Public Sector GAAP and SORPs, and General Application Standards. Read the Meeting Report for full details.

ISSB’s Exposure Draft, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information is now available in French. Chartered Professional Accountants of Canada undertook the official translation for stakeholders worldwide – as part of their ongoing funding support standard setting. Access the Exposure Draft in English or French and submit your comments by July 29, 2022. 

ISSB’s Exposure Draft, IFRS S2 Climate-related Disclosures is now available for download in French. Chartered Professional Accountants of Canada undertook the official translation for stakeholders worldwide – as part of their ongoing funding support standard setting. Access the Exposure Draft in English or French and submit your comments by July 29, 2022.

The AASB discussed a letter received from a stakeholder about the effective date of CSQM 1 and approved an Exposure Draft of a revised Joint Policy Statement with Auditors and Actuaries. The Board also discussed a new Canadian standard on FOFI and the IAASB’s activities related to Audit Evidence, Fraud, Going Concern, Sustainability Reporting, and more. Read the Decision Summary for full details.

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.