This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Annual Improvements 2021 – AcSB

Date recorded:

At its meeting on September 9, 2020, the AcSB discussed the Private Enterprise Advisory Committee’s feedback on the issues addressed in the 2021 annual improvements cycle and provided comments on the draft exposure draft.

The AcSB decided to remove one issue from the annual improvement cycle related to the measurement of investments in a related party transaction accounted for in accordance with Section 1591, Subsidiaries, Section 3051, Investments, or Section 3056, Interests in Joint Arrangements. The Board decided this issue is outside the scope of an annual improvement and will consider whether a separate project is warranted in the context of its Part II priorities. 

The AcSB also decided to propose that the amendments be effective for fiscal years beginning on or after January 1, 2022, with early application permitted. The Board plans to issue the Exposure Draft, “2021 Annual Improvements,” in Q4 2020.

Review the Executive Summary on the AcSB's Web site.

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.