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Post-implementation review of IFRS 13 completed
Dec 14, 2018
On December 14, 2018, the International Accounting Standards Board (the Board) published a summary report on its Post-implementation Review (PIR) of the fair value measurement Standard, IFRS 13, "Fair Value Measurement", which showed that the Standard works as intended.
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IASB decides on first potential amendments to IFRS 17
Dec 13, 2018
At its meeting on December 11-13, 2018, the International Accounting Standards Board (the Board) discussed IFRS 17, "Insurance Contracts" and 13 of the 25 concerns regarding the standard that were identified in October 2018 as candidates for potential amendments.
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IASB publishes proposed amendments to IAS 37 regarding onerous contracts
Dec 13, 2018
On December 13, 2018, the International Accounting Standards Board (the Board) published an exposure draft "Cost of Fulfilling a Contract (Proposed amendments to IAS 37)" considering costs a company should include as the cost of fulfilling a contract when assessing whether a contract is onerous. Comments are requested by April 15, 2019.
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Stavros Thomadakis Reappointed IESBA Chairman
Dec 13, 2018
On December 13, 2018, the International Ethics Standards Board for Accountants (IESBA) announced the reappointment of Dr. Stavros Thomadakis as IESBA Chairman for a further one-year renewable term commencing January 1, 2019.
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AcSB publishes final framework for reporting performance measures
Dec 12, 2018
On December 12, 2018, in order to help enhance the relevance of financial information, the Accounting Standards Board (AcSB) released a framework responding to the needs of stakeholders about the performance measures reported by entities. The framework is aimed at enhancing the usefulness and transparency of performance measures for users when management chooses to report them outside financial statements.
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Basis for Conclusions – Reporting on Audited Financial Statements
Dec 12, 2018
On December 12, 2018, the Auditing and Assurance Standards Board (AASB) released this document that summarizes the process the AASB followed in making revisions to CAS 700, Forming an Opinion and Reporting on Financial Statements.
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Basis for Conclusions – Accounting for Related Party Financial Instruments and Significant Risk Disclosures
Dec 12, 2018
On December 12, 2018, the Accounting Standards Board (AcSB) released this document which sets out how the AcSB reached its conclusions on the Related Party Financial Instruments and Significant Risk Disclosures project, and discussions on significant matters arising from comments received and issues raised in response to its Exposure Draft.
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Basis for Conclusions – Retractable or Mandatorily Redeemable Shares Issued in a Tax Planning Arrangement
Dec 12, 2018
On December 12, 2018, the Accounting Standards Board (AcSB) released this document which sets out how the AcSB reached its conclusions on the Retractable or Mandatorily Redeemable Shares project, and discussions on significant matters arising from comments received and issues raised in response to its Exposure Draft.
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IASB Chairman doubts we are ready for the next crisis, but sees great improvements in financial reporting
Dec 11, 2018
On December 11, 2018, the International Accounting Standards Board (IASB) released a speech by IASB® Chairman Hans Hoogervorst, given at the 2018 AICPA Conference on Current SEC and PCAOB Developments. In his speech, Mr. Hoogervorst looked at the lessons learned from the global financial crisis, sketched the enormous risks in the global economy and admitted doubt as to whether the financial system as a whole is ready for the next financial crisis.
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IFRS Foundation publishes proposed general improvements to the IFRS Taxonomy
Dec 06, 2018
On December 6, 2018, the IFRS Foundation published "IFRS Taxonomy 2018 — Proposed Update 2 "General Improvements''". Comments are requested by February 4, 2019.
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Economic growth gearing down, but to a sustainable pace
published Dec 11, 2018
Consumption-led growth in Canada is coming to an end, cooling economic growth to a sustainable pace, but headwinds loom.
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ASPE update
published Dec 11, 2018
In this video, our speakers provide a summary of the ASPE standards that are effective in 2018 including amendments to the cost method for investments. They discuss the latest amendments issued by Canadian Accounting Standards Board (AcSB) in relation to retractable or mandatorily redeemable shares issued in tax planning arrangements and related party financial instruments. And finally, they outline the proposed standard for agricultural producers in Canada.
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Update for Not-for-Profit Organizations
published Dec 11, 2018
In this video, our speaker reviews the new standards for Not-for-Profit Organizations on tangible capital assets, intangible assets and collections.
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Assurance update
published Dec 11, 2018
In this video, our speaker provides an overview of the Auditor Reporting Standards that will change all external audit reports issued this year.
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Income tax update
published Dec 11, 2018
In this video, our speaker provides an overview of income tax implications resulting from the last federal budget and tax planning opportunities to consider for year-end. Topics include income splitting, passive income and small business deductions, as well as changes to the taxation of work-in-progress.
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Data Analytics and Visualization Tools
published Dec 11, 2018
In this video, our speaker discusses private sector trends in data analytics and visualization and what Finance teams need to do to begin their journey with supporting tools.
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Digitization of the controllership function
published Dec 11, 2018
In the final video of the series, our speaker discusses the latest digital trends through the lens of the traditional controllership to assist you in preparing for the digital disruptors that face private companies today.
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2018 Audit Quality Report: Our priority, today and always
published Dec 11, 2018
We work every day to enhance audit quality. That means discussing with our clients how we plan to deliver the audit, evaluating how we did against that plan, and asking audit committees for feedback.
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Clearly IFRS® – IASB amends the definition of material
published Dec 10, 2018
This issue addresses the recent amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors that have been published by the International Accounting Standards Board (IASB). The amendments are titled Definition of Material—Amendments to IAS 1 and IAS 8.
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Investor trends and perspectives on TCFD recommendations
published Dec 10, 2018
Attend this webinar to learn about how investors are integrating climate change issues into investment decisions and utilizing the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
