News Listings

At its recent meeting, the Board discussed, reviewed, and made decisions on number of topics, including the International Strategy, Conceptual Framework and Reporting Model, Financial Instruments Narrow Scope Amendments, and Annual Improvements. Read the Decision Summary for full details.

The Canadian Academic Accounting Association’s (CAAA) 2020 conference theme is “Risky Business: Accounting in time of Uncertainty,” As research on managing, measuring and reporting risk can support Canada’s standard-setting boards’ evidence-based decision making, we encourage you to submit your papers by January 17, 2020.

The Board discussed topics such as IFRS® Standards, Insurance, Combinations, and Related Party Combinations, among others.

The PSA DG is a public forum where issues relating to public sector financial reporting are discussed. Watch this insightful video to learn what it’s all about.

The AASB approved a new standard on compilation engagements for release in February 2020. The impact could be significant to practitioners and users. Read about some of its key features.

The Board discussed several topics during this two-day meeting, including Identifying and Assessing the Risks of Material Misstatement, Public Sector Auditing Standards, and Quality Management. It also discussed its 2020-2021 Annual Plan. Read the Decision Summary for full details.

The IASB is carrying out a research project on Goodwill and Impairment to investigate how companies can provide users of financial statements with better information about business combinations at a reasonable cost. The IASB’s preliminary views will be shared in its upcoming Discussion Paper. Canadian stakeholders can help by commenting on the IASB’s Discussion Paper which is expected to be released in the first quarter of 2020. Follow the AcSB’s project page for updates!

PSAB proposes to remove the prohibition against recognizing intangibles purchased in an exchange transaction in public sector financial statements. The change is proposed to respond to input from Indigenous governments and other PSAB stakeholders. Read the Exposure Draft and Basis for Conclusions for full details.

PSAB has decided to revisit our Employment Benefits project by reviewing the project plan and scope. Read this article to find out why, and what’s next for our stakeholders. 

The IAASB recently issued an Exposure Draft, Conforming Amendments to the IAASB International Standards as a Result of the Revised IESBA Code. The AASB is considering appropriate revisions to Canadian standards and will issue its own exposure draft in January 2020. Stakeholders are encouraged to respond to the IAASB by January 10, 2020.