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Call for Applications: Standardsco Chair and Board of Directors

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Standardsco, a newly established federal not-for-profit corporation, will be 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.

Apply now

Virtual Roundtable Discussions – IPSASB Exposure Drafts – Tangible Natural Resources and Climate-related Disclosures

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Register for our virtual roundtables on IPSASB’s recent Exposure Drafts on Tangible Natural Resources and Climate-related Disclosures on November 27 and December 2, 2024. Share your feedback and help shape the future of public sector accounting and reporting in Canada.

Register

 
 
Feedback Statement – Criteria for Modification, CSDS 1 and CSDS 2

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The CSSB's Feedback Statement summarizes the responses received from its extensive public consultation on Canada’s first-ever sustainability disclosure standards. Read about who responded and what they said. Stay tuned for a separate report based on Indigenous participation and feedback related to Indigenous matters.

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News Listings

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October 19, 2017

International Activity

Final Amendments – Prepayment Features with Negative Compensation (Amendments to IFRS 9)

The International Accounting Standards Board (IASB) has issued narrow-scope amendments to IFRS 9 Financial Instruments clarifying the accounting for financial assets with prepayment features that may result in negative compensation. The amendments are effective for annual periods beginning on or after January 1, 2019 with earlier application permitted. The IASB has also amended the Basis for Conclusions for IFRS 9 to confirm the accounting for modifications or exchanges of financial liabilities measured at amortized cost that do not result in derecognition.

October 18, 2017

International Activity

Final Amendments – Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28)

The International Accounting Standards Board has issued narrow-scope amendments to IAS 28 Investments in Associates and Joint Ventures, clarifying that an entity applies IFRS 9 Financial Instruments (including its impairment requirements) to long-term interests in an associate or joint venture to which the equity method is not applied.

October 10, 2017

International Activity

IFRS® Foundation Report – “Better Communication in Financial Reporting—Making disclosures more meaningful”

PotashCorp is one of six companies featured in a case study report published by the IFRS Foundation with before and after examples of how companies from different parts of the world have improved communication in their IFRS financial statements.

October 6, 2017

Resource, Webinar

Webinar – Invitation to Comment on Employment Benefits Discount Rate Guidance

Tune in to this webinar on January 16, 2018 (English) or January 17, 2018 (French) to learn about the key features of PSAB’s Invitation to Comment, “Employment Benefits: Discount Rate Guidance in Section PS 3250."

September 29, 2017

International Activity

Canadian Member Appointed – IASB® Transition Resource Group for IFRS 17 Insurance Contracts

Lesley Thomson, Vice President and Deputy Chief Actuary, Sun Life Financial, has been appointed a member of the IASB's Transition Resource Group.  The Group provides a public forum for stakeholders to share and discuss with the IASB, questions about the implementation of new IFRS 17.

September 27, 2017

International Activity

IASB® Exposure Draft – Definition of Material (Proposed amendments to IAS 1 and IAS 8)

The IASB has issued an Exposure Draft proposing amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Canadian stakeholders are encouraged to submit their comments to the IASB by January 15, 2018.

September 26, 2017

News

New! Honourary Member – Public Sector Accounting Discussion Group

To recognize his leadership in establishing the Group in 2013, PSAB has invited recently retired PSAB Chair Rod Monette to be the first honourary Group member. This honourary membership will be reserved for each immediate past-Chair of PSAB.

September 18, 2017

International Activity

IASB® Exposure Draft – Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8)

The IASB has issued an Exposure Draft proposing amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Canadian stakeholders are encouraged to submit their comments to the IASB by January 15, 2018.

August 23, 2017

News

Public Sector Accounting Discussion Group – New Mandate

At its June meeting, PSAB approved an updated mandate that would allow the Group to discuss emerging issues and other public sector financial reporting issues, in addition to issues of application of the PSA Handbook. The Group is currently accepting submissions for its November 17, 2017 meeting.

August 15, 2017

Resource, Other

IFRS Discussion Group – Did you know?

The Group’s database has over 15 topics on IFRS 9, IFRS 15 and IFRS 16. Read and listen to recently added topics like modifications or exchanges of financial liabilities, seller’s right to variable consideration in an asset sale, and easements.