Top Stories

The AcSB discussed the Equity Method, Related Party Combinations, Climate-related and Other Uncertainties in Financial Statements, the Annual Plan, and more. Read the Decision Summary for full details.

Short on time but want to know how this change impacts you as a practitioner, a user of FOFI or pro forma, management, or a staff member charged with governance? Read our educational guide for more details! 

The IAASB approved International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. Find out what’s next for sustainability assurance in Canada.  

The Committee held a meeting on October 8, 2024, and discussed Financial Statement Concepts, Related Party Combinations, ASPE Climate Awareness, and more. Read the meeting notes for full details!

The AcSB continues to explore the impact of climate change on businesses and ASPE financial statements. In this second installment, we focus on topics such as property, plant, and equipment, impairment of long-lived assets, and contingent liabilities. This awareness series is designed to help organizations navigate climate-related matters using ASPE.

The IFRS Accounting Standards Discussion Group wants to hear about the challenges you face when applying IFRS Accounting Standards. Submit your issue by October 11, 2024, for consideration as a discussion topic at our December 3, 2024, meeting.

On October 1 and 4, 2024, the Canadian Sustainability Standards Board (CSSB) met virtually to provide final approval on the Feedback Statement and the Basis for Conclusions for Canadian Sustainability Disclosure Standards 1 and 2, as well as on the CSSB Strategic Plan.

Standardsco, a newly established federal not-for-profit corporation, has been formed in response to the recommendations of the Independent Review Committee on Standard Setting in Canada. The Standardsco Search Committee is currently seeking qualified individuals to join our Inaugural Board of Directors, including the pivotal role of Chair. In partnership with the leadership advisory firm Odgers Berndtson, the Standardsco Search Committee encourages interested candidates to apply promptly. 

PSAB discussed topics such as the Government Not-for-Profit Capital Assets project, Intangible Assets project, International Public Sector Accounting Standards Board update, generally accepted accounting principle designations in the Public Sector Accounting Handbook Appendices, and more. Read the Decision Summary for full details.

Our new Exposure Draft, “Proposed CSRS 4250, Compilation Engagements on Future-oriented Financial Information and Pro Forma,” is out now, and we want to hear your views! Your feedback is integral to our consultation process and will help us determine the next steps as we advance our project. Don’t miss your opportunity to have your voice heard. Respond to our proposals by January 7, 2025.