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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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September 9-10, 2021

Meeting Summary

AASB Decision Summary – September 9-10, 2021

The AASB discussed issues related to the IAASB’s projects on Group Audits and Auditor Reporting. The Board also received an update on its Future-oriented Financial Information project. Read the Summary for full details.

September 7, 2021

International Activity

AcSB Response – Business Combinations under Common Control

On August 25, 2021, the AcSB responded to the IASB’s Discussion Paper, issued in November 2020. The AcSB’s letter generally supports the proposed accounting model for business combinations under common control as it will increase the usefulness, understandability, and comparability of an entity’s financial statements. The letter provides suggestions in certain areas to ease concerns with applying the proposals. Read our letter to find out more!

September 1, 2021

International Activity

IAASB Exposure Draft – Audits of Less Complex Entities

The IAASB issued an Exposure Draft proposing a new standard on auditing the financial statements of less complex entities (LCEs). On September 10, 2021, the AASB will release a discussion paper that explores whether to pursue a separate standard for audits of LCEs in Canada and other options to address the challenges practitioners face in LCE audits. Read the IAASB Exposure Draft and stay tuned for our Canadian discussion paper!

August 30, 2021

Meeting Summary

AcSOC Public Meeting Report – April 14, 2021

The Council met on April 14, 2021 to receive an update on the AcSB’s Strategic Plan and approve the blue-ribbon panel’s Terms of Reference. Read the full report for more information.

August 30, 2021

Meeting Summary

AcSOC Public Meeting Report – February 11-12, 2021

The Council met on February 11-12, 2021 to receive an update on the Boards’ activities. Read the full report for more information. 

August 20, 2021

International Activity

AcSB Staff Respond to EFRAG’s Discussion Paper, Accounting for Crypto-assets (liabilities)

On July 26, 2021, the AcSB staff responded to the European Financial Reporting Advisory Group (EFRAG) Discussion Paper, “Accounting for Crypto-assets (liabilities): Holder and Issuer Perspective.” The AcSB staff strongly support EFRAG in its efforts to identify and raise awareness of the accounting issues for cryptoasset activities that are likely to be relevant to entities applying IFRS® Standards. Read our letter to find out more about the AcSB staff’s views and suggestions on additional areas for consideration.

August 19, 2021

International Activity

IPSASB issues Mid-Period Work Program Consultation document

The IPSASB released its Mid-Period Work Program Consultation document. PSAB encourages stakeholders to send comments directly to the IPSASB by November 30, 2021.

If you would like us to consider your feedback during the development of our response, please reply to our Board by November 16, 2021.

August 19, 2021

International Activity

IPSASB issues Exposure Draft (ED) 80, Improvements to IPSAS, 2021

The IPSASB released Exposure Draft (ED) 80, Improvements to IPSAS, 2021. PSAB encourages stakeholders to send comments directly to the IPSASB by September 30, 2021.

August 17, 2021

Document for Comment

AcSB Exposure Draft – Initial Application of IFRS 17 and IFRS 9―Comparative Information (Proposed amendment to IFRS 17)

The AcSB issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Canadian stakeholders who would like their feedback considered prior to the AcSB finalizing its comment letter are encouraged to submit comments to the AcSB by September 15, 2021.

August 6, 2021

International Activity

IPSASB issues four new Exposure Drafts on how to measure assets and liabilities in the public sector

The IPSASB released four new Exposure Drafts on how to measure assets and liabilities in the public sector. PSAB encourages stakeholders to send comments directly to the IPSASB by October 25, 2021. 

If you would like us to consider your feedback during the development of our response, please reply to our Board by October 11, 2021.