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Beyond Compliance – Promoting Excellence in Financial Reporting in Canada
  • IFRS - IASB Image
  • IASB publishes proposed amendments to IAS 12

    Jul 17, 2019

    On July 17, 2019, the International Accounting Standards Board (IASB) published an exposure draft "Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Proposed amendments to IAS 12)" that aim at clarifying how companies account for deferred tax on leases and decommissioning obligations. Comments are requested by November 14, 2019.

  • IFRS - AcSB Image
  • AcSB Exposure Draft – Amendments to IFRS 17

    Jul 17, 2019

    On July 17, 2019, the Accounting Standards Board (AcSB) issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Comments are requested by September 25, 2019.

  • FRC (United Kingdom Financial Reporting Council) Image
  • FRC consults on enhanced ethical and auditing standards

    Jul 15, 2019

    On July 15, 2019, the Financial Reporting Council (FRC) issued a consultation proposing important changes to the UK’s Ethical and Auditing Standards. The FRC proposes to set more stringent ethical rules for auditors, in response to findings from recent audit enforcement cases and from audit inspections. Comments are request by September 27, 2019.

  • IFRS - AcSB Image
  • AcSB and OIC hold joint meeting

    Jul 15, 2019

    On July 15, 2019, the Canadian Accounting Standards Board (AcSB) and the Italian standard-setter Organismo Italiano di Contabilità (OIC) held a joint meeting in Rome. The meeting was the second bilateral meeting between the two standard-setters.

  • US_SEC Image
  • Statement on LIBOR transition

    Jul 12, 2019

    On July 12, 2019, the Securities and Exchange Commission (SEC) published a statement by the staffs of the Divisions of Corporation Finance, Investment Management, and Trading and Markets, and the Office of the Chief Accountant on managing the transition from LIBOR.

  • Canada Image
  • Anti-money laundering rules for cryptocurrency dealers finalized by Canadian government

    Jul 10, 2019

    On July 10, 2019, the Canadian Department of Finance published amendments to regulations made under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act 2019 (PCMLTFA), which will apply to dealers in virtual currency and foreign money services businesses (MSBs) that service Canadian customers beginning June 1, 2020.

  • FASB (US Financial Accounting Standards Board) (lt blue) Image
  • FASB consults on the amortization of goodwill

    Jul 09, 2019

    On July 9, 2019, the Financial Accounting Standards Board (FASB) issued an invitation to comment "Identifiable Intangible Assets and Subsequent Accounting for Goodwill", which notes that the FASB has been considering whether to change the subsequent accounting for goodwill for cost-benefit reasons. US GAAP currently requires a goodwill impairment model.

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  • CFO Insights – Revolutionizing reporting in the digital age Image
  • CFO Insights – Revolutionizing reporting in the digital age

    published Jul 18, 2019

    In this issue of CFO Insights, we will take a look at how companies are using digital tools to upgrade their reporting processes to get better information distributed faster – and what that means for the future of reporting itself.

  • Webcast ASPE Image
  • Canadian public company financial reporting update: Q2 2019

    published Jul 17, 2019

    This webinar, part of CPA Canada's IFRS webinar series, provides you with the most recent updates on matters of interest to Canadian public companies, including key changes to Canadian securities legislation and IFRS standards.

  • CFO Insights: Q1 2019 CFO Signals Survey Results Image
  • CFO Insights: Q2 2019 CFO Signals Survey Results

    published Jul 16, 2019

    After riding high through 2017, CFOs’ sentiment and expectations began to decline in early 2018. Citing growing worries about the economic impacts of geopolitics, US political turmoil, and US trade policy, just 28% of CFOs in the Q4 2018 survey said they expected the North American economy to be better in 2019 – half the level going into 2018

  • Global perspectives for private companies: Agility in changing markets Image
  • Global perspectives for private companies: Agility in changing markets

    published Jul 04, 2019

    In many ways, there’s never been a better time to be a private company. Technological advances have brought private businesses closer to their customers, globalization has granted greater access to once remote markets, and a new generation of talent is bringing fresh thinking into strategy. However, market changes like cyberattacks, trade tensions and geopolitical uncertainty can pose risks to growth.

  • Multi screens Image
  • IFRS Discussion Group Archived Audio Webcast

    published Jun 20, 2019

    The IFRS Discussion Group’s purpose is to act in an advisory capacity to assist the Accounting Standards Board (AcSB) in supporting the application in Canada of IFRS Standards. The Group maintains a public forum at which issues arising from the current application, or future application, of issued IFRS Standards are discussed and makes suggestions to the AcSB to refer particular issues to the International Accounting Standards Board (IASB) or IFRS Interpretations Committee. In addition, the Group provides advice to the AcSB on potential changes to IFRS Standards and such discussions are generally held in private.

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