News Listings

The IASB voted to defer the effective date of IFRS 17 to annual reporting periods beginning on or after January 1, 2023. It also voted to extend the temporary exemption of applying IFRS 9 by two years to keep the effective dates aligned. The AcSB welcomes these decisions as they support achieving a common global adoption date. The AcSB encourages Canadian stakeholders to continue with their implementation efforts to ensure a high-quality implementation of IFRS 17.

The Board discussed topics such as IFRS Standards, employee future benefits, related party transaction, standards for pension plans, and its next strategic plan, among others. Read the Decision Summary for full details.

Part of the non-authoritative guidance that was removed from Part V on March 1, 2020 was Section 4250, Future Oriented Financial Information. This guidance continues to be relevant to private enterprise financial statement preparers and practitioners, so it will be retained in the Handbook. Read more about this update.

We are pleased to announce new members and re-appointed members, and thank those retiring, to the Council, the AcSB and PSAB. See the appointments page for full details.

We are pleased to announce new members and re-appointed members, and thank those retiring, to the Council, the AcSB and PSAB. See the appointments page for full details.

The Board discussed topics such as contributions, ASPE implementation, and its next strategic plan, among others.

The IASB has published a Request for Information to seek views on whether and how to align the IFRS for SMEs Standard with the full IFRS Standards. Stakeholders are encouraged to respond by July 27, 2020.

The amendments clarify one of the criteria for classifying a liability as non-current – that is, the right to defer settlement for at least 12 months after the reporting date. The AcSB will incorporate the amendments into the CPA Canada Handbook upon completion of its due process activities.

The Board discussed topics such as IFRS® Standards, contributions, pension plans, and its next strategic plan, among others.