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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 15, 2020

Resource, Other

Basis for Conclusions – PSAB International Strategy

This document sets out how the Board reached its decision to pursue Option 2: Adapt IPSAS principles when developing future standards as its future International Strategy. Read the Basis for Conclusions for full details.

September 9-23, 2020

Meeting Summary

AASB Decision Summary – September 9-10 and 23, 2020 Meetings

The Board reviewed stakeholder feedback received on the AASB Exposure Draft – Audits of Group Financial Statements (Including the Work of Component Auditors) as well as a draft response letter to the IAASB Exposure Draft. It discussed issues related to the IAASB’s project on Quality Management at the Firm and Engagement Level and Extended External Reporting. The Board also reviewed a second draft of its 2022-2025 Draft Strategic Plan, which reflects the implications of the COVID-19 pandemic on the AASB’s strategic directions. Read the full Decision Summary for details.

September 4, 2020

International Activity

IASB completes IBOR reform project with amendments to IFRS Standards

The IASB has completed its project on IBOR reform by issuing a package of amendments to IFRS Standards in August 2020. These amendments are effective on January 1, 2021, with early adoption permitted. The AcSB will ballot the final amendments and complete its endorsement process in September 2020.

September 1, 2020

Meeting Summary

AcSOC Public Meeting Report – March 26, 2020

As a result of the unprecedented challenges of COVID-19, AcSOC held a special meeting on March 26, 2020 to deal with issues arising with PSAB’s decision to postpone its March 26-27, 2020 meeting. Read the full report for more information.

September 1, 2020

News

AcSB endorses the IASB’s package of narrow-scope amendments to IFRS® Standards

The IASB’s package of narrow-scope amendments to IFRS Standards are now in Part I of the CPA Canada Handbook – Accounting, effective for annual reporting periods beginning on or after January 1, 2022. The package includes the IASB’s Annual Improvements and narrow-scope amendments to three standards – IAS 16 Property, Plant and Equipment, IFRS 3 Business Combinations, and IAS 37 Provisions, Contingent Liabilities and Contingent Assets.

August 28, 2020

Resource, Guidance

COVID-19 and Application of Public Sector Accounting Standards (PSAS)

The COVID-19 pandemic significantly affected governments, businesses, and the public globally. Government responses and the COVID-19-related financial and economic consequences will need to be considered in financial reporting of public sector organizations. Read this non-authoritative guidance for more details.

August 27, 2020

Meeting Summary

AASB Decision Summary – August 27, 2020

The Board reviewed a draft response letter to IASB Exposure Draft, General Presentation and Disclosures. It also discussed the impact of COVID-19 on its Draft Strategic Plan and how to reflect this in the Plan. Read the full Decision Summary for details.

August 25, 2020

News

Submit an Issue – Public Sector Accounting Discussion Group

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 November meeting are due October 2, 2020.

August 12, 2020

Meeting Summary

AcSB Decision Summary – July 28, 2020

The Board discussed topics such as Primary Financial Statements, Leases, Insurance Contracts – plus much more. Read the Decision Summary for full details.

August 6, 2020

International Activity

IAASB issues Auditor Reporting Post Implementation Review Survey

The IAASB Auditor Reporting Implementation Working Group issued an online survey for stakeholders to provide input regarding the enhanced Auditor Reporting Standards. The AASB encourages all stakeholder groups to participate and share their views!