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The AcSB discussed its ROMRS Project Summary, Performance Report, Financial Statement Concepts project, Guidance Framework: Part IV/IFRS 18, Part IV Agenda Consultation, Annual Plan, and more. Read our Decision Summary for full details.

The Group discussed Year-end Financial Reporting Reminders, IFRS 18: Classification of income and expenses that arise from liabilities, and more. Read the meeting report for full details!

PSAB approved Section PS 3251, Employee Benefits, and the narrow scope amendments to Statement of Recommended Practice -1. The Board also discussed initial recommendations for the Government Not-for-Profit (GNFP) Contributions and Financial Statement Presentation project, Cloud Computing Arrangements, and a preliminary draft of its 2027-2032 strategic plan. In addition, the Board received updates from the Indigenous Advisory Group and the Public Sector Accounting Discussion Group. Read the full Decision Summary for details!

The AcSB has issued narrow scope amendments to Section 3840, Related Party Transactions in Part II of the Handbook. The amendments address accounting for a combination involving a business under common control and are effective for fiscal years beginning on or after January 1, 2026.

At its December 2025 meeting, the AASB unanimously approved final narrow-scope amendments to Canadian Auditing Standard 620 and certain Other Canadian Standards. The Board also discussed several international standard-setting initiatives and, through its Emerging Issues Monitoring Process, identified and prioritized key environmental themes. Read the decision summary for full details.

The amendments, which include reduced disclosure requirements for new and amended IFRS Accounting Standards issued between February 2021 and May 2024, are now in Part I of the CPA Canada Handbook.

These are effective for annual reporting periods beginning on or after January 1, 2027, with earlier application permitted.

Catch the on-demand recording of this panel discussion, hosted by the CSSB and the UN Principles for Responsible Investment (UN PRI) as part of Canada Climate Week Xchange in November 2025. Hear insights from regulators, industry leaders, and sustainability experts on the future of sustainability disclosure in Canada.

The Canadian Sustainability Standards Board (CSSB) met to discuss its engagement framework, 2026 Performance Report, and 2026-2027 Annual Plan. The CSSB also approved a project proposal to amend Canadian Sustainability Disclosure Standard 2, Climate-related Disclosures and its response letters to the SASB Standards Enhancement Project. For full details, read the decision summary.

PSAB invites interested and affected parties across Canada’s public sector to take the IPSASB Work Program Consultation Survey, open November 17, 2025, to February 17, 2026. Help shape global standards and ensure Canadian input is reflected.

The Group discussed Application of the Generally Accepted Accounting Principles Hierarchy to the amendments to IFRS 9 Financial Instruments, application issues for the Subsequent Measurement of Asset Retirement Obligations, and Considerations for Subsequent Events Disclosures. Read the meeting report for full details.