Whats New

An executive summary of discussions and decisions with respect to projects addressed in this meeting.

The AASB has issued an Exposure Draft of Canadian Auditing Standard 610 (Revised), Using the Work of Internal Auditors, and related changes to certain paragraphs in CAS 315 (Revised), Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment, seeking comment on its proposal to adopt, with appropriate amendments, the equivalent ISAs. Comments, on the form provided, are requested by October 6, 2010.

PSAB has issued a summary of its Strategic Plan and is seeking comments on its general direction and priorities. Comments, on the form provided, are requested by October 15, 2010.

This Risk Alert explains key changes to Section 7050, Auditor Review of Interim Financial Statements, relating to circumstances when an auditor is required to request that his or her interim review report containing a reservation be included in any public document containing the interim financial statements.

The AcSB has issued an Exposure Draft (ED) that corresponds to the IASB’s ED on this topic. Comments, on the form provided, are requested by October 22, 2010.

A Basis for Conclusions has been issued.

A Basis for Conclusions has been issued.

A Basis for Conclusions has been issued.

Take part in a free webinar on Tuesday, August 10, 2010 at 12:30 EDT on proposed changes to how an entity presents income and expenses recognized in the period. This webinar will be of interest to preparers, auditors and users of financial statements of publicly accountable enterprises and other entities adopting IFRSs.

The AcSB has issued an Exposure Draft proposing that qualifying entities with rate-regulated activities be permitted to defer the adoption of IFRSs by two years. Comments, on the form provided, are requested by August 31, 2010.

PSAB reports on the results of its activities and performance during the year, including standards development, strategic planning, stakeholder outreach and more.

An executive summary of discussions and decisions with respect to the topic addressed at this meeting: Rate-regulated Activities.

The PSAB is currently seeking members to appoint to the Amalgamations and Restructurings Task Force.

The AcSB has issued an Exposure Draft (ED) that corresponds to the IASB’s ED on this topic. Comments, on the form provided, are requested by September 7, 2010.

The AcSB has issued an Invitation to Comment on a draft of a new strategic plan outlining the broad policy objectives that will guide it in carrying out its standard-setting mandate. Comments, on the form provided, are requested by September 30, 2010.

An executive summary of discussions and decisions with respect to the topics addressed at this meeting: International Activities; Accounting Standards for Private Enterprises.

PSAB is currently seeking members to appoint to the Conceptual Framework Task Force.

At its inaugural meeting on June 15, 2010, the Private Enterprise Advisory Committee (PEAC) discussed various issues in respect of the accounting standards for private enterprises.  The meeting notes are a summary of discussions held.

This publication provides guidance on audit reporting issues that may arise during the current period of change to new auditing and accounting standards.

The AASB reports on their activities and accomplishments, including CAS implementation guidance and other transition matters.

The AcSB has issued an Exposure Draft proposing that investment companies can defer the adoption of IFRSs by one year. Comments, on the form provided, are requested by August 23, 2010.

The AcSB has issued an update to its comparison of International Financial Reporting Standards and Canadian standards as of December 31, 2009.

An executive summary of discussions and decisions with respect to the topics addressed at this meeting: International Activities; Pension Plans — Scope Amendment; Not-for-Profit Organizations — Accounting for Intangible Assets.

At its June meeting, the IFRS Discussion Group (IDG) discussed various issues arising from the application of IFRSs in Canada. The meeting notes are a summary of the discussion and should be reviewed in conjunction with the archived audio webcast of the meeting.

An executive summary of discussions and decisions with respect to projects addressed in this meeting.

A Background Information and Basis for Conclusions document is now available.

The AcSB and PSAB are currently seeking members to appoint to a new Joint Not-for-Profit Task Force.

An executive summary of discussions and decisions with respect to projects addressed in this meeting.

A Background Information and Basis for Conclusions document is now available.

The CICA is seeking an individual to join the public sector accounting team to develop accounting and financial reporting standards for the public sector in Canada.

The AcSB has issued an Exposure Draft (ED) that corresponds to the IASB’s ED on this topic. Comments, on the form provided, are requested by July 16, 2010.

The AcSB has issued an Exposure Draft (ED) that corresponds to the IASB’s ED on this topic. Comments, on the form provided, are requested by September 30, 2010.

The AcSB applauds the joint announcement of the International Accounting Standards Board and the US Financial Accounting Standards Board to extend their convergence timeline beyond June 2011.