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The amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates specify the translation procedures for an entity whose presentation currency is that of a hyperinflationary economy. The amendments are now in Part I of the CPA Canada Handbook. They are effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

The Auditing and Assurance Standards Board has summarized feedback on its Re-exposure Draft on Indigenous Matters in CSSA 5000. The summary highlights who we heard from, what themes stood out in the feedback, and how these perspectives are guiding the next steps. Read the summary for more details.

The Accounting Standards Board (AcSB) issued its Exposure Draft. “Risk Mitigation Accounting,” which corresponds to the International Accounting Standards Board’s Exposure Draft on this topic. If you would like your feedback considered before the AcSB finalizes its comment letter, please respond by June 15, 2026.

The AcSB conducted a post-implementation review of the ROMRS amendments to the Accounting Standards for Private Enterprises. The Board confirmed the amendments are working as intended, with no major issues, and will not pursue further consultation. The Board emphasizes that it will continue to monitor emerging ROMRS application issues through its Guidance Framework. Read our full project summary for details.

In October 2025, the Auditing and Assurance Standards Board and the International Auditing and Assurance Standards Board held a Technology Quality Management roundtable in Toronto to discuss emerging technologies in audit and assurance engagements. Read the insights from the roundtable.

The AcSB discussed December 2025 meeting recommendations from the IFRS® Accounting Standards Discussion Group; National Instrument 52-112, Non-GAAP and Other Financial Measures Disclosure; Contributions; its annual plan; its strategic plan; and more. Read the decision summary for full details.

At the AASB’s January 19, 2026, meeting, the Board completed a final read and resolution of issues prior to the anticipated approval of proposed CSRS 4250, Compilations of Future-oriented Financial Information and Pro Forma. They also discussed planned activities associated with the Board’s continuing work on the amendments related to Indigenous matters in CSSA 5000, General Requirements for Sustainability Assurance Engagements. Read the decision summary for full details.

The CSSB discussed its 2026 Performance Report, its 2026-2027 Annual Plan, and IPSASB’s 2025 Work Program Consultation. The Board reviewed the first draft of 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 a project plan for their response to the ISSB’s planned amendments to the SASB Standards. Read the decision summary for full details.

The Chairs of Canada’s Accounting Standards Board (AcSB) and Canadian Sustainability Standards Board (CSSB) met with their Japanese counterparts, the Accounting Standards Board (ASBJ) and Sustainability Standards Board (SSBJ), in Toronto on January 12, 2026. They shared updates on their boards’ activities, discussed how national standard setters can support the IASB and ISSB respectively, and explored opportunities for continued collaboration with the IFRS Foundation to advance high-quality, globally aligned accounting and sustainability disclosure standards. Read more about the meeting and key takeaways.

The Reporting & Assurance Standards Oversight Council is pleased to announce the appointment of Andrew Newman as the next Chair of the Public Sector Accounting Board, effective April 1, 2026.