News Listings

The AcSB discussed Insurance Contracts with a Cash Surrender Value, Pension Plans, the AcSB’s Performance Report and Annual Report, and more. Read the Decision Summary for full details, including how stakeholders can provide feedback on these initiatives.

The Committee held a meeting on May 3, 2023, and discussed Revenue Application Issues, Upfront Non-refundable Fees or Payments, Related Party Combinations, and International Tax Reform. Read the meeting notes for full details!

The AcSB issued an Exposure Draft proposing annual improvements to accounting standards for pension plans. These improvements relate to disclosures for guaranteed annuity contracts, commonly referred to as “buy-in” annuity contracts. We encourage you to submit your comments by June 2, 2023.

The AcSB issued its Exposure Draft which corresponds to the IASB’s Exposure Draft on this topic. If you would like your feedback considered prior to our Board finalizing our comment letter, please respond to us by July 7, 2023.

The size and complexity of Canada’s private enterprises, not-for-profit organizations, and pension plans are varied. Could changing the existing accounting standards through scaling better meet the needs of those who develop financial statements for these types of entities – and those who use them? Watch our recorded webinar for more on what scaling our standards means and a general update on our other domestic projects.

Read our In Brief for an overview of Exposure Draft (ED), “Contributions – Revenue Recognition and Related Matters." The ED proposals aim to improve financial reporting by not-for-profit organizations by creating guidance that will result in financial statements that are less complex and more comparable for financial statement users. Share your feedback by submitting a comment letter by September 30, 2023, and/or attending one of our roundtables to be held during the comment period.

The AcSB’s Annual Plan describes the Board’s key activities and project milestones set for 2023-2024. Read about our progress on objectives from our five-year Strategic Plan, including our work to enhance the relevance of accounting standards for each category of reporting entity in Canada. 

Share your views on a proposed new accounting standard, Contributions Received by Not-for-Profit Organizations and proposed amendments to Section 4400, Financial Statement Presentation by Not-for-Profit Organizations. Participate in our upcoming consultation activities or send us a comment letter with your feedback. Reply by September 30, 2023, and have your say!

The AcSB has released “Consultation Paper I – Exploring Scalability in Canada.” Read this paper to find out about our proposed scalability solutions and provide your feedback on the future direction of this project by July 31, 2023.

The IASB has published an Exposure Draft, Amendments to the Classification and Measurement of Financial Instruments, which proposes updates to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures. Respond with your feedback by July 19, 2023.