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The AcSB’s 2026–2027 Annual Plan describes the Board’s key activities and project milestones for the year. The Plan also highlights our progress on objectives from the 2022–2027 Strategic Plan. Read more about our work to enhance the relevance of financial and non‑financial reporting information, continued engagement in international standard-setting activities, and consideration of emerging issues such as the implications of technological developments, including artificial intelligence, for financial reporting.

The Canadian Sustainability Standards Board (CSSB) has been reappointed to the IFRS Sustainability Standards Advisory Forum. This appointment ensures Canada remains engaged in global sustainability standard-setting discussions, enabling the CSSB to bring Canadian perspectives to international conversations and stay closely connected to developments shaping global sustainability disclosure standards. Read more about the appointment and its significance for Canada.

The AcSB discussed the Detailed Review of ASPE project, Guidance Framework topics, Contributions, and more. Read the decision summary for full details.

At its March 11–12, 2026, meeting, PSAB approved projects to amend Section PS 2120, Accounting Changes, and to adapt IPSAS 21 Impairment of Non-Cash Generating Assets for the Canadian public sector. The Board also concluded that a post‑implementation review of the Financial Instruments suite of standards is not required and discussed key updates across several other ongoing projects and advisory groups. Read the decision summary for full details.

At its March meeting, the AASB approved two new Canadian standards: CSRS 4250, Compilation Engagements on Future-oriented Financial Information (FOFI) and Pro Forma, and CSSA 5000, General Requirements for Sustainability Assurance Engagements. The Board also approved its 2025–2026 Performance Assessment and 2026–2027 Annual Plan and discussed several significant standard-setting initiatives currently underway. Read the decision summary for full details.

The CSSB approved an exposure draft proposing amendments to CSDS 2, Climate-related Disclosures, to correspond with the ISSB’s final amendments to IFRS S2. The Board also approved its 2025-2026 Performance Report, its 2026-2027 Annual Plan, and proposed changes to the Terms of Reference for the Sustainability Standards Advisory Committee and the Sustainability Technical and Implementation Advisory Committee. Read the decision summary for full details.

The Accounting Standards Board (AcSB) issued its Exposure Draft that corresponds to the International Accounting Standards Board’s Exposure Draft on this topic. If you would like your feedback considered prior to the AcSB finalizing its comment letter, please respond by March 27, 2026.

The AcSB has endorsed amendments to illustrative examples in IFRS 7 Financial Instruments: Disclosures, IFRS 18 Presentation and Disclosure in Financial Statements, IAS 1 Presentation of Financial Statements, IAS 8 Basis of Preparation of Financial Statements, IAS 36 Impairment of Assets, and IAS 37 Provisions, Contingent Liabilities and Contingent Assets that clarify how entities disclose uncertainties in the financial statements. The examples use climate-related scenarios as practical illustrations, but the underlying principles apply more broadly to all uncertainties. The amendments are now in Part I of the CPA Canada Handbook – IFRS^® Accounting Standards. The illustrative examples do not have an effective date because they support, but are not part of, IFRS Accounting Standards.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by March 6, 2026, for consideration as a discussion topic at our May 12, 2026, meeting.

The AcSB discussed the Risk Mitigation Accounting project, Guidance Framework topics including Cloud Computing and Agriculture, and more. Read the decision summary for full details.