News Listings

The Committee held a meeting on February 7, 2024, and discussed revenue – upfront non-refundable fees or payments, financial statement concepts, climate-related risks and opportunities, and more. Read the meeting notes for full details!

The AASB issued an Exposure Draft proposing not to adopt at this time the International Auditing and Assurance Standards Board (IAASB)’s proposed narrow-scope amendments. The IAASB’s proposal stems from revisions to the definitions of listed entities and public interest entities in the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (Including Independence Standards). We welcome your feedback on this Exposure Draft. Submit your comments by April 8, 2024, and tell us what you think. 

Watch these on-demand webinars for an overview of PSAB’s new Conceptual Framework and Reporting Model, including how you can start preparing for implementation.

The Accounting Standards Oversight Council met on February 27, 2024, to discuss the Public Sector Accounting Board’s and the Accounting Standard Board’s activities and related matters. Read the full report for more information.

The International Public Sector Accounting Standards Board (IPSASB) released two Exposure Drafts to address the lack of guidance on specific activities related to mineral resources: ED 86, Exploration for and Evaluation of Mineral Resources; and ED 87, Stripping costs in the Production Phase of a Surface Mine (Amendments to IPSAS 12). To ensure Canadian perspectives are considered, and future standards serve the Canadian public interest, we encourage you to respond to these Exposure Drafts if they are relevant to your entity or clients. Submit your comments directly to IPSASB by May 31, 2024.

The AcSB discussed Business Combinations, Cash Flow Reporting, recommendations from the IFRS® Accounting Standards Discussion Group, its Guidance Framework, and more. Read the Decision Summary for full details, including how you can provide feedback on these initiatives.

In its narrow-scope amendment Exposure Draft, GAAP Designation of PSA Handbook Appendices, PSAB proposes to assign a higher level of authority under GAAP to four application guidance PSA Handbook Appendices. Tell us if you agree with the amendments and submit your feedback by April 11, 2024.

The AcSB issued its Exposure Draft, “Financial Instruments with Characteristics of Equity,” 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 March 1, 2024.