Skip to main content

Top Stories




Volunteer Opportunity – IFRS® Accounting Standards Discussion Group

Rows of white chairs with one red chair front and centre

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”

A hand traces a glowing digital pathway beside a search icon, symbolizing quick access to key information

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”

Close up of people wearing suits stacking wooden blocks on a tabletop

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

to

January 6, 2021

Resource, Guidance

Going Concern and Liquidity Risk (Updated January 2021)

Have you assessed whether your company will continue as a going concern in 2021? Read this updated Going Concern and Liquidity Risk resource to better understand the impact of going concern and liquidity risk on your financial statements. More guidance to come on this topic from the auditing perspective in January 2021.

January 6, 2021

Meeting Summary

AcSB Decision Summary – December 16, 2020

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

January 5, 2021

International Activity

IASB Request for Information – Post-implementation Review of IFRS 10, IFRS 11, and IFRS 12

On December 9, 2020, the IASB issued a Request for Information as part of the post-implementation review of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, and IFRS 12 Disclosure of Interests in Other Entities. Post-implementation reviews are part of the IASB’s due process and help the IASB assess the effects of requirements on users of financial statements, preparers and auditors. Canadian stakeholders are encouraged to submit their comments to the IASB by May 10, 2021. 

December 15, 2020

News

Comment Deadline Extended – AcSB Consultation Paper, Contributions – Revenue Recognition and Related Maters

The AcSB has extended the deadline to submit a comment letter from December 15, 2020 to December 31, 2020 for the Consultation Paper, Contributions – Revenue Recognition and Related Matters.

December 14, 2020

International Activity

IASB Discussion Paper – Business Combinations under Common Control

How do you account for business combinations under common control? The IASB recently issued its Discussion Paper - Business Combinations under Common Control. It includes proposals that aim to reduce the diversity in practice and improve the transparency and comparability of the reporting on such combinations. Have your say by responding to the IASB directly by September 1, 2021 You can also share your feedback with the AcSB by connecting with the AcSB staff on this project. We will consider your comments prior to finalizing our comment letter.

December 14, 2020

Meeting Summary

AASOC Public Meeting Report – September 30, 2020

The Council met on September 30, 2020 to receive an update on the Board’s activities. Read the full report for more information.

December 14, 2020

Meeting Summary

AASB Decision Summary – December 14, 2020

The Board reviewed draft response letters to the IAASB Discussion Paper on Fraud and Going Concern and the IFRS Foundation Trustees Consultation Paper on Sustainability Reporting. The Board also discussed the recommendations in the Monitoring Group publication Recommendations to Strengthen the International Audit and Ethics Standard Setting System.

December 11, 2020

Meeting Summary

AASOC Public Meeting Report – June 22-23, 2020

The Council met on June 22-23, 2020 to receive an update on the Board’s draft Strategic Plan as well as the Board’s 2019-2020 Performance Report. Read the full report for more information.

December 11, 2020

Meeting Summary

PSAB Decision Summary – December 11, 2020

At its recent meeting, the Board discussed the International Strategy project and PSAB’s response to the Consultation Paper on Sustainability Reporting by the Trustees of the IFRS Foundation. Read the Decision Summary for full details.

December 10, 2020

Meeting Summary

PSAB Decision Summary – December 10, 2020

At its recent meeting, the Board discussed the Employment Benefits project, the 2021-2022 Annual Plan and Risk Assessment, and the Interim Performance Report. Read the Decision Summary for full details.