At its meeting on May 13, 2020, the AcSB discussed the initial feedback received from stakeholders on the IASB’s Exposure Draft, “Interest Rate Benchmark Reform – Phase 2.” The Board also discussed the key points to raise in its response letter to the Exposure Draft that will be sent to the IASB by the May 25, 2020, deadline.

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

At its meeting on May 13, 2020, the AcSB discussed its recent activities and those of the FASB and the IASB relating to the effects of COVID-19 on the accounting for leases. The discussion included the IASB’s recent Exposure Draft, “COVID-19-Related Rent Concessions (Proposed Amendment to IFRS 16).” The IASB is expected to issue the final amendments to IFRS 16 by the end of May 2020. The AcSB expects to complete its endorsement process of the final IASB amendments and incorporate the amendments into Part I of the CPA Canada Handbook – Accounting on July 1, 2020. The amendments will be effective for annual reporting periods beginning on or after June 1, 2020.

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

At its meeting on May 13, 2020, the AcSB discussed the draft response letter to the CSA’s Request for Comment on “Proposed NI 52-112 Non-GAAP and Other Financial Measures Disclosure.” The Board discussed the key messages to be included in its response letter and directed staff to update the draft response letter based on its comments. The Board will discuss the revised draft response letter before the June 29, 2020 deadline.

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