Recent standards updates (May 2023)

Recent standards updates (May 2023)

Financial Reporting & Assurance Standards Canada is hiring!

The work of a standard-setting staff member is far reachinginfluencing organizations, investors, and citizens from coast to coastand beyond. Join a team of professionals dedicated to serving the public interest. Check out their current job opportunities. 


Accounting standards

AcSOC June meeting
At its June meeting, the Accounting Standards Oversight Council will discuss the AcSB’s activities, PSAB’s activities, and more. Register to attend virtually!

Virtual roundtable discussions
Attend an upcoming roundtable discussion to provide your feedback on AcSB’s Consultation Paper, “Exploring Scalability in Canada.”

Scaling the standards
Watch AcSB’s recorded webinar to learn more about what scaling the standards means and potential scalability solutions for Canada identified by the organization so far.

Upcoming IFRS® Accounting Standards Discussion Group meeting
At its upcoming meeting on May 25, the IFRS Accounting Standards Discussion Group will discuss topics such as Accounting for Lending Crypto Assets, Accounting for Earn-in Expenditures Upon Acquisition of a Mining Operation, and Accounting for the Development of Carbon Credits that will Ultimately be Sold. Register to livestream the meeting.

Exploring AcSB’s Exposure Draft, Contributions—Revenue Recognition and Related Matters webinar
Explore key proposals in AcSB’s Exposure Draft, “Contributions – Revenue Recognition and Related Matters,” and find out how you can provide your feedback


Public sector accounting

Volunteer opportunityPSAB Technical Advisory Group
The Public Sector Accounting Board (PSAB) is currently seeking new members to join its Technical Advisory Group! Join a network of public sector accounting experts and assist PSAB with the technical review of documents issued by international and domestic standard setters. Apply to be a volunteer member by June 30.

PSA Discussion Group June meeting
The next meeting of the PSA Discussion Group will be held on June 8—register to livestream the meeting


Auditing and assurance standards

AASB April meeting decision summary
At its meeting on April 5, the Auditing and Assurance Standards Board (AASB) discussed comments received on its Exposure Draft, “CAS 500, Audit Evidence”, approved an exposure draft on Going Concern, and reviewed a draft response letter to the International Auditing and Assurance Standards Board’s (IAASB) Exposure Draft, “Proposed Part 10, Audits of Group Financial Statements of Less Complex Entities.” The Board also received an update on the results of its survey and reviewed a draft of its response letter to the IAASB’s Proposed Strategy and Work Plan. Read the decision summary for more details.



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