Amendments to Section 4600 – AcSB

Date recorded:

At its meeting on July 20-21, 2022, the AcSB considered the sufficiency of feedback from its outreach activities and comment letters received on the Exposure Draft and concluded that it has received sufficient feedback from stakeholders including practitioners, preparers, users, provincial accounting bodies, regulators, academics, actuaries and other individuals. .The AcSB then deliberated stakeholder feedback on its Exposure Draft. The Board tentatively decided (i) to make a number of changes to the disclosure requirements of Section 4600 and (ii) to defer the effective date to annual periods beginning on or after January 1, 2024, with earlier application permitted.  The AcSB also tentatively decided to finalize certain other proposals in the Exposure Draft, subject to minor edits. The AcSB plans to review a draft of the final amendments to Section 4600 at its September 2022 meeting.

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

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