At its meeting on July 21-22, 2021, the AcSB discussed its draft response letter to the IASB’s Discussion Paper, and provided staff with comments to incorporate into its final letter. The AcSB encourages stakeholders to share their views on the Discussion Paper by submitting their response letters to the IASB by September 1, 2021, with a copy to the AcSB.

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

At its meeting on July 21-22, 2021, the AcSB received an overview of the expected narrow-scope amendment to IFRS 17, Insurance Contracts. This targeted proposal aims at improving the usefulness of comparative information presented on initial application of IFRS 17 and IFRS 9 Financial Instruments. The AcSB discussed and approved a plan to respond to the forthcoming exposure draft, which includes consulting with its Insurance Transition Resource Group. The AcSB encourages Canadian stakeholders to continue with their implementation efforts. The Board further notes that entities would need to collect information starting from the transition date of IFRS 17 to apply the proposed amendment. Therefore, the Board encourages entities to follow this project to assess potential implications for their implementation efforts.

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

At its meeting on July 21-22, 2021, the AcSB discussed a revised draft of its response letter to the IASB’s Exposure Draft, “Regulatory Assets and Regulatory Liabilities.” The Board approved its response letter, subject to final edits. The AcSB submitted its response letter to the IASB by the July 30, 2021, deadline.

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

At its meeting on July 21-22, 2021, the AcSB discussed a draft of its response letter to the IFRS® Foundation Trustees’ Exposure Draft, “Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards.” The Board approved its response letter, subject to final edits. The AcSB submitted its response letter to the IFRS Foundation by the July 29, 2021, deadline.

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