A number of standards updates and resources have recently been released that may be of interest to Alberta CPAs:
Discussion Topic
Submit an Issue to the IFRS® Discussion Group
The IFRS Discussion Group wants to hear about the challenges you face when applying IFRS Standards. Submit your issue by November 2, 2022, for consideration as a discussion topic at our December 5, 2022, virtual meeting.
Decision Summary
PSAB Decision Summary – September 28 – 29, 2022
The Board discussed the Independent Review of Standard Setting, International Strategy, Financial Statement Presentation Standard, Employee Benefits, and other matters. Read the Decision Summary for full details.
Meeting Notes and Reports
Not-for-Profit Advisory Committee Meeting Notes – October 4, 2022
The Committee discussed Contributions, Revenue, Reporting Controlled and Related Entities, Insurance Contracts with a Cash Surrender Value, and more. Read the meeting notes for full details.
IFRS® Discussion Group Meeting Report – September 21, 2022
At its September 21, 2022, meeting, the Group discussed hot topics such as the impact of rising inflation and interest rates on financial reporting, the financial reporting implications of OECD Pillar Two GloBE Rules, and the accounting for cash received via electronic transfer as settlement for a financial asset. Read the meeting report for details.
Lessons Learned from KAM Reporting on Audits of TSX-Listed Entities: Observations from the 2020 Canadian Experience
In 2022, an independent research study on KAM reporting was undertaken to gain further insights on the Canadian experience. Lessons learned from the research study can be found here.
