AcSB Exposure Draft — Non-current Liabilities with Covenants – Proposed Amendments to IAS 1

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Dec 16, 2021

On December 16, 2021, the Accounting Standards Board (AcSB) issued its Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Canadian stakeholders who would like their feedback considered prior to the AcSB finalizing its comment letter are encouraged to submit their comments to the AcSB by March 4, 2022.

The AcSB would like input from Canadian respondents on the following additional question regarding the proposed amendment:

  • The IASB has developed the proposed amendment in accordance with its due process for application around the world. Assuming the Exposure Draft proposals are finalized and approved by the IASB in accordance with its due process, do you think that the proposals are appropriate for application in Canada? If not, please specify which aspects of the proposals, and what circumstances, make the accounting requirements proposed in the Exposure Draft inappropriate.

Review the press release and exposure draft on the AcSB's website.

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