News Listings

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.

Do you have concerns or questions related to the application of the PSA Handbook? Submit an issue to the PSA Discussion Group for consideration. Submissions for our upcoming June 2023 meeting are due April 17, 2023.

Are you applying the new agriculture standard for private enterprises? Do you plan to measure your agricultural inventories using net realizable value? Read this easy-to-understand resource to support your financial statement preparation process.

The Board discussed its 2023-2024 Annual Plan, 2022-2023 Performance Assessment, Emerging Issues, and the IAASB’s projects on Audit Evidence, Going Concern, Sustainability, and more. Read the Decision Summary for full details. 

The AcSB discussed Crypto-asset Activities, Reporting Controlled and Related Entities, Related Party Combinations, Revenue, Agriculture, Pension Plans, Scaling the Standards, Sustainability Reporting, the AcSB’s Annual Plan, and more. Read the Decision Summary for full details, including how you can provide feedback on these initiatives.

The International Auditing and Assurance Standards Board (IAASB) issued its Exposure Draft of Proposed Part 10, Audits of Group Financial Statements, of the Proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE). The Exposure Draft aims to include certain group audits within the scope of the proposed ISA for LCE. Submit your comments on the IAASB’s Exposure Draft by May 2, 2023, and provide a copy of your response to the AASB at [email protected].

The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.

The Council met on February 23, 2023, to discuss the activities of the AcSB, PSAB, and related matters. Read the full report for more information.

The Board discussed the creation of the Indigenous Advisory Group (IAG), the Technical Advisory Group (TAG), and the Financial Statement Presentation Standard (“Reporting Model”). Read the Decision Summary for full details.

The Accounting Standards Board (AcSB) welcomed International Accounting Standards Board (IASB) Chair, Andreas Barckow, and Vice-Chair, Linda Mezon-Hutter, to its February 15, 2023 board meeting in Toronto.