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The Board discussed its Strategic Plan, Annual Improvements, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

At its December 17, 2020 meeting, the Group discussed many financial reporting hot topics such as the IFRS® Interpretations Committee’s tentative agenda decision on the classification of debts as current or non-current, disclosure of the impact of COVID-19, and impairment testing of right-of-use assets. Read the meeting report for details.

Tune in to this webinar on March 8, 2021 (English) or March 29, 2021 (French) to learn about the key proposals in PSAB’s Exposure Draft “The Conceptual Framework for Financial Reporting in the Public Sector.” Seats are limited. If you aren’t able to attend live, the webinar will be available on demand.

Did you conclude that your company did not have material uncertainties associated with its ability to continue as a going concern? Would small changes to the assumptions you used change that assessment? Read this joint resource issued by the AcSB and AASB on accounting and auditing considerations relating to close call going concern assessments.

The Board discussed its Annual Plan, Performance Report, Post Implementation Review (IFRS 10, 11 and 12), and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The Board reviewed a draft response letter to the IAASB Discussion Paper on Fraud and Going Concern in an Audit of Financial Statements and discussed its project on Quality Management. It also reviewed performance assessments for its 2020-2021 Annual Plan and 2016-2021 Strategic Plan.

This article provides highlights from comment letters written by Boards and Councils responding to the IFRS Foundation Trustees Consultation Paper on Sustainability Reporting.

Are you struggling with an accounting issue? Need experts to weigh in on it? Submit an issue to the PSA Discussion Group for consideration. Submissions for our upcoming April meeting are due February 22, 2021.

On December 16, 2020, the AcSB responded to the IASB’s Discussion Paper, issued in March 2020. The IASB’s proposals take significant steps forward towards improving the accounting for goodwill and enhancing the relevance of information about acquisitions. The AcSB’s letter encourages the IASB to consider areas where additional guidance is needed to address possible application challenges that may arise. Read our letter to find out more!

Linda Mezon, AcSB Chair, and Ken Charbonneau, AASB Chair, and other leaders from Canadian practice share their insights, on how they are getting involved to support business and protect the public interest in a blockchain enabled world. These leaders share the challenges and opportunities they see, and the role accountants can play, including how educators and researchers can help.  Read their insights in the CAAA’s journal Accounting Perspectives’ special issue on Blockchain and Cryptoassets, Vol.19, Issue 4.