About Canadian standard setting

Project	Summary
2023 Annual Improvements to the IFRSs [ED]	At its February 2023 meeting, the International Accounting Standards Board (IASB) discussed several proposed amendments that will be included in the next Annual Improvements to IFRS Accounting Standards cycle, as follows:
Accounting for Dynamic Risk Management: A Portfolio Revaluation Approach to Macro Hedging (Proposed amendments to IFRS 9) [ED]	The DP represents the first stage in this project, by seeking public comment on a possible approach to accounting for an entity’s dynamic risk management activities, namely the portfolio revaluation approach (PRA).
AcSB's Future Domestic Work Plan Consultation - Accounting Standards for Pension Plans [ED]	AcSB's Future Domestic Work Plan Consultation - Accounting Standards for Pension Plans [ED]
AcSB's Future Domestic Work Plan Consultation - Accounting Standards for Private Enterprises [ED]	AcSB's Future Domestic Work Plan Consultation - Accounting Standards for Private Enterprises [ED]
AcSB's Future Domestic Work Plan Consultation - Accounting Standards for Private Sector Not-for-Profit Organizations [ED]	AcSB's Future Domestic Work Plan Consultation - Accounting Standards for Private Sector Not-for-Profit Organizations [ED]
Amendments to Form 58-101F1 Corporate Governance Disclosure of National Instrument 58-101 Disclosure of Corporate Governance Practices and proposed changes to National Policy 58-201 Corporate Governance Guidelines pertaining to director nomination process	Amendments to Form 58-101F1 Corporate Governance Disclosure of National Instrument 58-101 Disclosure of Corporate Governance Practices and proposed changes to National Policy 58-201 Corporate Governance Guidelines pertaining to director nomination process, board renewal and diversity [ED]
Amendments to National Instrument 45-106: Prospectus Exemptions that would amend the Report of Exempt Distribution [Completed]	The proposed amendments are intended to address concerns raised by stakeholders about the certification and certain information requirements in the Form 45-106F1, Report of Exempt Distribution.
Amendments to the Classification and Measurement of Financial Instruments (Proposed Amendments to IFRS 9 and IFRS 7) [ED]	The objective of this project is to make narrow scope amendments to clarify the requirements for assessing a financial asset’s contractual cash flow characteristics
Audit Evidence [ED]	The objectives of the project are to: (a) explore issues relevant to audit evidence, including those arising from technology, professional skepticism and the growing number of sources of information available to auditors; and (b) identify and implement actions to address these issues, which may include revisions to ISA 500 or other actions, such as non-authoritative guidance
Audits of less complex entities – Phase II [ED]	This project addresses the challenge of applying the CASs to audits of LCEs, including whether to pursue a separate standard for audits of LCEs in Canada.
Business Combinations – Disclosures, Goodwill and Impairment (Possible Amendments to IFRS 3 and IAS 36) [ED]	This project examines whether companies can, at a reasonable cost, provide investors with more useful information about the business combinations those companies make
Business Combinations under Common Control (Potential Amendments to IFRS 3) [DISCONTINUED]	The essence of the project is to identify whether and when an entity should continue to use the previous carrying amounts of a transferred business (carry-over accounting) and whether and when it should apply business combination accounting.
CPAB Project – Communication to audit committees – Phase II [ED]	In 2021 CPAB conducted a public consultation to gather stakeholder input and invite a dialogue to inform CPAB’s evolution of its approach to disclosing the results of oversight of participating audit firms that audit Canadian reporting issues. The majority of stakeholders said CPAB should significantly increase or make targeted improvements to how CPAB discloses its regulatory assessments. Specifically, audit committee members expressed that additional information on the results of CPAB’s oversight would be beneficial in supporting their oversight of auditors. Investors and other commentators outlined that increased disclosures would increase public accountability and pressure on firms to improve audit quality.
CSA - Potential oversight requirements for foreign audit firms [Completed]	This project discusses the challenges faced by the CPAB in accessing audit work performed in certain foreign jurisdictions and whether certain oversight requirements should be introduced for audits done by foreign firms.
CSA – Improvements to disclosure standards for mineral projects [ED]	The Staff of the CSA published CSA Consultation Paper 43-401 "Consultation on National Instrument 43-101 Standards of Disclosure for Mineral Projects" seeking comments on Canada’s standards for disclosing scientific and technical information about mineral projects, as they consider ways to update and enhance those requirements
CSA – Proposal to streamline the Continuous Disclosure Requirements (amendments to National Instrument 51-102) [ED]	The CSA proposed changes to the continuous disclosure requirements for non-investment fund reporting issuers that will streamline and clarify their annual and interim filings
CSA – Proposed introduction of expedited shelf prospectus regime for well-known seasoned issuers (Amendments to National Instrument 44-102 and its companion policy) [ED]	On September 21, 2023, the Canadian Securities Administrators (CSA) announced that it is seeking public comment on a proposed expedited shelf prospectus regime for well-known seasoned issuers (WKSIs) in Canada. This would reduce the regulatory burden for these particular issuers with a strong market following and a complete continuous disclosure record that meets specific conditions.
CSA – Proposed modernization of the prospectus filings model for investment funds (Amendments to National Instruments 41-101 and 81-101) [ED]	The CSA published for comment a two-staged proposal to modernize the prospectus filing model for investment funds
CSA – Proposed National Instrument NI 51-107, Disclosure of Climate-related Matters [ED]	The proposed requirements address the need for more consistent and comparable information to help inform investment decisions.
CSSB Consultation Paper – Proposed Criteria for Modification Framework [ED]	CSSB Consultation Paper – Proposed Criteria for Modification Framework [ED]
CSSB: Proposed Canadian Sustainability Disclosure Standard (CSDS) 1, General Requirements for Disclosure of Sustainability-related Financial Information [ED]	CSSB: Proposed Canadian Sustainability Disclosure Standard (CSDS) 1, General Requirements for Disclosure of Sustainability-related Financial Information
CSSB: Proposed Canadian Sustainability Disclosure Standard (CSDS) 2, Climate-related Disclosures [ED]	CSSB: Proposed Canadian Sustainability Disclosure Standard (CSDS) 2, Climate-related Disclosures [ED]
Disclosure initiative — Primary Financial Statements [ED]	The Primary Financial Statements project examines possible changes to the structure and content of the primary financial statements.
Financial Instruments with Characteristics of Equity (Potential Amendments to IAS 32) [ED]	This is currently a joint research project with the FASB to address issues related to the guidance in IAS 32, Financial Instruments: Presentation, which distinguishes between asset and liability instruments (non-equity instruments) and equity instruments.
Fraud [ED]	On September 15, 2020, the International Auditing and Assurance Standards Board (IAASB) opened a public consultation, "Fraud and Going Concern in an Audit of Financial Statements: Exploring the Differences Between Public Perceptions About the Role of the Auditor and the Auditor’s Responsibilities in a Financial Statement Audit".
Global Initiative to Develop Financial Reporting Guidance for Not-for-Profit Organizations (#IFR4NPO) [ED]	Global Initiative to Develop Financial Reporting Guidance for Not-for-Profit Organizations (#IFR4NPO) [ED]
Going Concern [ED]	On September 15, 2020, the International Auditing and Assurance Standards Board (IAASB) opened a public consultation, "Fraud and Going Concern in an Audit of Financial Statements: Exploring the Differences Between Public Perceptions About the Role of the Auditor and the Auditor’s Responsibilities in a Financial Statement Audit". Comments were requested by January 12, 2021.
IAASB: Proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements [ED]	The IAASB approved the project proposal for the development of an overarching standard for assurance on sustainability reporting
IESBA - Using the Work of an External Expert [ED]	IESBA - Using the Work of an External Expert [ED]
IESBA Proposed Changes to the Code of Ethics: Revisions to the Code Addressing Tax Planning and Related Services (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [ED]	The proposed revisions respond to public interest concerns about tax avoidance and the role played by consultants, including professional tax advisers, in light of revelations in recent years such as the Paradise and Pandora Papers.
IESBA Proposed Changes to the Code of Ethics: Role and Mindset Expected of Professional Accountants (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [Completed]	This Professional Skepticism Long Term Project was developed out of the related Professional Skepticism Short Term Project. This project considers how the Code of Ethics should address professional skepticism beyond audit and other assurance engagements.
IESBA Proposed Changes to the Code of Ethics: Section 600, Provision of Non-Assurance Services to an Audit Client (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [Completed]	The objective of the project is to ensure that all of the Non-Assurance Services (NAS) provisions in the Code of Ethics are robust and of high quality for global application, thereby increasing confidence in the independence of audit firms.
IESBA Proposed Changes to the Code of Ethics: Fee-related Provisions in Part 2, Part 3 and Part 4A of the Code (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [Completed]	The objective of the project is to review the provisions in the Code pertaining to fee-related matters within the project scope, and recommend any changes considered necessary for the Code to remain robust and appropriate in enabling professional accountants to meet their responsibility to comply with the fundamental principles and, where applicable, be independent.
IFRS Accounting Taxonomy Update — Common Practice (Financial Instruments) and General Improvements [ED]	The project’s objective is to assess, using empirical evidence, whether improvements to the IFRS Accounting Taxonomy are needed to support high-quality tagging of information presented and disclosed in the financial statements prepared using IFRS Accounting Standards.
Insurance Contracts with Cash Surrender Value – Accounting [ED]	The AcSB approved a project to provide guidance on accounting for insurance contracts with cash surrender value in Part II and Part III of the CPA Canada Handbook – Accounting.
ISSB Consultation on its Agenda Priorities [ED]	The ISSB met on July 20, 2022 to discuss its approach to preparing a request for information to consult the public on its agenda priorities. The request for information will inform the development of the ISSB's two-year work plan.
ISSB: IFRS Sustainability Disclosure Taxonomy [ED]	The objective of this project is develop a proposed IFRS Sustainability Disclosure Taxonomy
ISSB: International Applicability of the SASB Standards [ED]	The ISSB has committed to improve the international applicability of the SASB Standards as part of its initial work plan. The SASB Standards will be essential to support preparers implementing IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information (IFRS S1).
Management Commentary (Wider corporate reporting) [ED]	This purpose of this project is to revise and update the “Management Commentary Practice Statement” issued in 2010.
New Cooperative Capital Markets Regulatory System in Canada [Paused/Suspended]	Proposed New Cooperative Capital Markets Regulatory System in Canada
NFPO Combinations – Initial Measurement and Related Disclosures [Completed]	This project provides guidance on the initial measurement of a combination and the relevant disclosures.
OSFI consultation on climate-related risks in the financial sector [Completed]	OSFI consultation on climate-related risks in the financial sector [ED]
PCAOB Amendments to PCAOB Auditing Standards related to a Company’s Noncompliance with Laws and Regulations (NOCLAR) [ED]	On June 6, 2023, the Public Company Accounting Oversight Board (PCAOB) issued for public comment a proposal to replace AS 2405, Illegal Acts by Clients, in its entirety with AS 2405, A Company’s Noncompliance with Laws and Regulations, together with conforming amendments to PCAOB auditing standards. The comment period is open through August 7, 2023.
Post-implementation Review of IFRS 15 [ED]	The objective of a PIR is to assess whether the effects of applying new requirements on users of financial statements, preparers, auditors and regulators are as intended when the IASB developed those new requirements.
Post-implementation Review of IFRS 9 - Impairment [ED]	The IASB met on July 19, 2022 to discuss objectives, activities and an anticipated time line for the first phase of the Post-implementation Review of the IFRS 9, Financial Instruments, impairment requirements. The IASB was not asked to make any decisions.
Proposed International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and Other Revisions to the Code Relating to Sustainability Assurance and Reporting [ED]	In December 2022, the International Ethics Standards Board for Accountants (IESBA) approved a project proposal with the objectives to develop: (a) Revisions to the Code to address the ethics issues that might arise in sustainability reporting; and (b) Ethics and independence standards for use and implementation by all sustainability assurance. In undertaking this project, the IESBA has engaged closely with the International Auditing and Assurance Standards Board (IAASB) to ensure that the IESBA’s final sustainability-related standards will be consistent and interoperable with the proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements (ISSA 5000), including definitions of terms such as “sustainability information,” using the work of another practitioner, sustainability assurance engagements in a group context, and the concept of value chain.
Proposed narrow scope amendments to ISQMs, ISAs, and international standard on Review engagements 2400 (revised), Engagements to review historical financial statements [ED]	The International Auditing and Assurance Standards Board (IAASB) is currently working on a narrow scope maintenance of standards project on listed entity and PIE that addresses the IAASB’s actions in respect of recent revisions to the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code) as a result of IESBA’s project on the definitions of listed entity and PIE.
PSAB - Employment Benefits [ED]	The PSAB intends that, as a result of this project, a new, comprehensive Handbook Section on employment benefits will replace the two existing Sections (Section PS 3250, Retirement Benefits, and Section PS 3255, Post-employment Benefits, Compensated Absences and Termination Benefits)
PSAB - Future Work Plan Consultation Paper [ED]	The PSAB issued a Future Work Plan Consultation to gather input on the projects it should take on, to help fulfill the strategies identified in its Strategic Plan 2022-2027
PSAB – Annual Improvements 2022-2023 [ED]	The PSAB has adopted an Annual Improvements process to make minor improvements to the CPA Canada Public Sector Accounting Handbook or Statements of Recommended Practices
Reporting the Financial Effects of Rate Regulation [ED]	This is the first step in the IASB’s project to develop a comprehensive IFRS standard for entities that have rate-regulated activities.
Revenue – Upfront Non-refundable Fees or Payments [ED]	The amendments to Section 3400 defer the effective date for upfront non-refundable fees or payments application guidance from fiscal years beginning on or after January 1, 2022, to fiscal years beginning on or after January 1, 2025
Scaling the Standards [ED]	As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to exploring scaling the standards for non-listed entities to better meet different reporting needs.
Scaling the Standards [ED]	As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to exploring scaling the standards for non-listed entities to better meet different reporting needs.
Scaling the Standards [ED]	As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to exploring scaling the standards for non-listed entities to better meet different reporting needs.
Scaling the Standards [ED]	As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to exploring scaling the standards for non-listed entities to better meet different reporting needs.

Project	Summary
2017 Annual Improvements [Completed]	Changes to standards, however small, are time-consuming for the Accounting Standards Board (AcSB) to deal with. Accordingly, the AcSB has adopted the Annual Improvements process to deal efficiently with a collection of narrow scope amendments to the CPA Canada Handbook – Part II even though the amendments are unrelated.
2017 Consultation on Priorities for Part II [Completed]	The AcSB conducted research and targeted outreach with stakeholders to gain a better understanding of the issues relating to the following topics: (i) Section 1000, Financial Statement Concepts; (ii) Section 3400, Revenue; (iii) Section 3840, Related Party Transactions; (iv) the benefit of amortizing goodwill and providing relief from the recognition of intangible assets on business combinations; (v) clarifying the definition of a business; (vi) including guidance on determining functional currency; and (vii) Section 3856, Financial Instruments: fair value measurement, hedge accounting, derecognition and classification of equity and financial liabilities.
2021 CPAB Disclosures - public consultation [Completed]	2021 CPAB Disclosures
Accounting for Related Party Financial Instruments and Significant Risk Disclosures (Proposed Amendments to Section 3856, Financial Instruments) [Completed]	This project clarifies the scope of related party financial instruments, clarifies the measurement of related party compound financial instruments and amends the financial instrument risk disclosure requirements.
Accounting for Subsidiaries under the Cost Method and the Equity Method (Amendments to Sections 1591 and 3051) [Completed]	A project to clarify certain issues in accounting for subsidiaries under the cost method and the equity method.
Accounting Policies and Accounting Estimates (Potential Amendments to IAS 8) [Completed]	The purpose of this project was to clarify the distinction between a change in an accounting policy and a change in an accounting estimate, in relation to the application of IAS 8.
Accounting policy changes (Potential Amendments to IAS 8) [Completed]	This project addresses the challenges posed by the requirements in IAS 8 for voluntary changes in accounting policies, in particular, changes in accounting policies that result from agenda decisions published by the IFRIC.
AcSB - Framework for Reporting Performance Measures [Completed]	The purpose of the Draft Framework for Reporting Performance Measures is to enhance the relevance of financial information for all entities.
Additional Guidance with respect to Section 3400, Revenue [Completed]	The AcSB approved a project to address stakeholders’ issues about insufficient guidance on accounting for revenue in Section 3400, Revenue, in Part II of the Handbook.
Addressing Disclosures in the Audit of Financial Statements (Amendments to CASs 200, 210, 240, 260, 300, 315, 320, 330, 450 and 700) [Completed]	The revisions to the standards aim to focus auditors more explicitly on disclosures throughout the audit process and drive consistency in auditor behavior in applying the requirements of the auditing standards.
Agreed-Upon Procedures (Amendments to Section 9100) [Completed]	The objective of this project is to update Section 9100, "Reports on the Results of Applying Specified Auditing Procedures to Financial Information Other than Financial Statements", which was written several years ago.
Agriculture [Completed]	The purpose of this project is to develop an accounting standard for agricultural activities.
AICPA Proposed Description Criteria for Management’s Description of an Entity’s Cybersecurity Risk Management Program [Completed]	This project outlines revised AICPA trust services criteria for use by public accounting firms that provide advisory or attestation services to evaluate the controls within an entity’s cyber risk management program, or SOC 2 engagements.
AICPA Proposed Revision of Trust Services Criteria for Security, Availability, Processing Integrity, Confidentiality, and Privacy [Completed]	This project is intended for use by management in designing and describing its cybersecurity risk management program and by public accounting firms to report on management’s description.
Alberta and Saskatchewan - Proposed Prospectus Exemption for Self-Certified Investors [Completed]	The proposed new prospectus exemption is designed to provide greater access to capital for Alberta and Saskatchewan businesses and broaden investment opportunities for Alberta and Saskatchewan investors.
Amendments to IFRS 17, Insurance Contracts [Completed]	The objective of this project is to address concerns and implementation challenges raised since the IFRS 17 was issued and to consider whether there is a need to amend the Standard.
Amendments to National Instrument 45-102, Resale of Securities [Completed]	The Canadian Securities Administrators published amendments to National Instrument 45-102, Resale of Securities.
Amendments to National Instrument 54-101: Proxy Voting Infrastructure [Completed]	The purpose of the project was to facilitate discussions among market participants regarding the integrity and reliability of Canada’s proxy voting infrastructure.
Amendments to National Instrument 41-101: General Prospectus Requirements – Summary Disclosure Document and Delivery Regime for Exchange-Traded Mutual Funds [Completed]	This project requires exchange-traded mutual funds (ETFs) to produce and file a summary disclosure document called “ETF Facts.”
Amendments to National Instrument 81-101: Mutual Fund Risk Classification Methodology [Completed]	This proposed risk classification methodology would be used by mutual fund managers in the fund facts document to make comparisons between mutual funds easier.
Amendments to National Instruments 81-102 and 81-104 relating to Alternative Mutual Funds [Completed]	The CSA published for comment proposed amendments to National Instrument 81-102, Investment Funds and National Instrument 81-101, Mutual Fund Prospectus Disclosure as part of the final phase of the CSA’s efforts to modernize the regulation of publicly offered investment funds.
Amendments to National Instrument 45-106: Prospectus and Registration Exemptions – Start-up Crowdfunding Exemption [Completed]	The proposed exemptions would allow both reporting and non-reporting issuers to raise money by distributing securities through internet portals.
Amendments to National Instrument 45-106: Prospectus and Registration Exemptions - Exemption for Rights Offerings [Completed]	The proposed amendments would create a streamlined prospectus exemption for rights offerings by reporting issuers.
Amendments to National Instrument 45-108: ASC Crowdfunding Exemption [Completed]	The Alberta Securities Commission is moving forward with two initiatives designed to facilitate capital-raising for small and medium-sized enterprises while providing appropriate investor protection.
Amendments to Part IV and Part VI of the Toronto Stock Exchange Company Manual [Completed]	The Toronto Stock Exchange issued for comment proposed amendments to its Company Manual that would introduce a requirement that listed issuers maintain a publicly accessible website.
Amendments to the Conceptual Framework for Financial Reporting [Completed]	Amendments to the Conceptual Framework for Financial Reporting
Amendments to the ISAs/CASs with respect to the IESBA’s revised Definitions of Listed Entities and PIEs [Completed]	The IAASB discussed and approved a project proposal to undertake a narrow scope maintenance of standards project on listed entities and PIEs. This project sets out the IAASB’s actions to respond to recent revisions to the IESBA Code as a result of their project on the Definitions of Listed Entity and PIE.
AMF Whistleblower Program [Completed]	On June 20, 2016, "The AMF" launched its Whistleblower Program, intended to better protect individuals who report wrongdoing and enable the AMF to gather information on offences committed under the laws and regulations it administers.
Annual Improvements 2021 [Completed]	The annual improvements process clarifies guidance or wording in the standards; or corrects relatively minor unintended consequences, conflicts or oversights
Annual Improvements to IFRSs 2014-2016 Cycle [Completed]	The Annual Improvements to IFRSs 2014–2016 Cycle includes amendments to IFRS 1, IFRS 12 and IAS 28.
Annual Improvements to IFRSs 2015-2017 Cycle [Completed]	The Annual Improvements to IFRSs 2015–2017 Cycle includes issues related to IAS 12 and IAS 23.
Annual Improvements to IFRSs 2009-2011 Cycle [Completed]	Amendments to 5 standards, namely IFRS 1, IAS 1, IAS 16, IAS 32 and IAS 34
Annual Improvements to IFRSs 2010-2012 Cycle [Completed]	The standard is a collection of amendments to IFRSs in response to eight issues addressed during the 2010–2012 cycle for annual improvements to IFRSs.
Annual Improvements to IFRSs 2011-2013 Cycle [Completed]	The standard is a collection of amendments to IFRSs in response to four issues addressed during the 2011–2013 cycle.
Annual Improvements to IFRSs 2012- 2014 Cycle [Completed]	The standard is a collection of amendments to IFRSs in response to five issues addressed during the 2012–2014 cycle.
Annual Improvements to IFRSs 2018-2020 Cycle [Completed]	This project tracks developments in the annual improvements process for the 2018-2020 cycle.
ASNPO Accounting Standards Improvements for NFPOs (Sections 4433, 4434 and 4441) [Completed]	This project was undertaken in response to the feedback from private sector stakeholders to the April 2013 AcSB/PSAB Joint Statement of Principles, Improvements to Not-for-Profit Standards.
ASNPO Reporting Controlled and Related Entities by Not-for-Profit Organizations (Possible Amendments to Section 4450) [Completed]	This project is being undertaken in response to the feedback from private sector stakeholders to the April 2013 AcSB/PSAB Joint Statement of Principles, Improvements to Not-for-Profit Standards.
Assurance on Compliance with Agreements, Statutes and Regulations (Amendments to Sections 5800, 5815, and 8600) [Completed]	Public accountants are often asked to provide assurance on an entity’s compliance with statutes, regulations and agreements. Section 5800, Special Reports — Introduction, Section 5815, "Special Reports — Audit Reports on Compliance with Agreements, Statutes and Regulations", and Section 8600, "Reviews of Compliance with Agreements and Regulations", were written several years ago. CSAE 3530 and CSAE 3531 replaced those standards.
Assurance on Integrated Reporting and other EER – IAASB [Completed]	The Integrated Reporting Working Group (IRWG) of the International Auditing and Assurance Standards Board (IAASB) was initially formed to monitor the demand for assurance engagements on integrated reporting.
Auditing Accounting Estimates (Amendments to CAS 540) [Completed]	This project has for objective to develop clearer or additional guidance to enable auditors to appropriately deal with accounting estimates and related disclosures.
Auditor Reporting – Key Audit Matter Reporting and Other Considerations (Amendments to CAS 700) [Completed]	The objective of this project was to consider whether reporting on key audit matters should be required for audits of other listed entities.
Auditor's Consent to the Use of a Report of the Auditor Included in an Offering Document (Amendments to Section 7150) [Completed]	The proposed amendments to Section 7150 are being made primarily to address the requirements of stock exchanges for the auditor’s consent to include certain statements. In addition, the AASB is proposing a number of amendments to correct an oversight in the previous drafting of Section 7150, and to improve the clarity of the Section.
Auditor’s Consent to the Use of the Auditor’s Report in Connection with Designated Documents [Completed]	This project revises Section 7500, “Auditor’s Consent to the Use of the Auditor’s Report in Connection with Designated Documents”.
Audits of less complex entities – Phase I [Completed]	The IAASB seeks to further understand the challenges of using ISAs in audits of less complex entities and views about possible actions to address these challenges.
Basel Committee on Banking Supervision – Consultation on principles for the effective management and supervision of climate-related financial risks [Completed]	The Basel Committee on Banking Supervision issued a public consultation on principles for the effective management and supervision of climate-related financial risks.
BCSC Consultation on Disclosure Requirements in National Instrument 58-101, Disclosure of Corporate Governance Practices relating to Women on Boards and in Executive Officer Positions [Completed]	The BCSC is consulting on disclosure requirements regarding the representation of women on boards and in executive officer positions in National Instrument 58-101, Disclosure of Corporate Governance Practices adopted in all CSA jurisdictions, except for BC and Prince Edward Island.
Changes to Custody and Other Requirements for Dealers, Advisers and Investment Fund Managers (Proposed amendments to NI 31-103 and NI 33-109 [Completed]	This project includes proposed amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and National Instrument 33-109 Registration Information. The amendments include proposals to enhance custody requirements for certain registrants, clarify activities that may be conducted by exempt market dealers and incorporate relief from certain Client Relationship Model Phase 2 (CRM2) requirements into NI 31-103.
CIPFA: Exploring Accounting for the Cloud [Completed]	Cloud computing is in the process of revolutionizing the way that IT services are provided across public services. CIPFA, as the leading body advising on public sector accounting, has been asked to look at issues raised by “accounting for the cloud” on behalf of its members and their employers.
Clarification of Classification and Measurement of Share-based Payment Transactions (Amendments to IFRS 2) [Completed]	The project brings together a collection of three amendments to IFRS 2.
Classification of Liabilities as Current or Non-current (Amendments to IAS 1) [Completed]	The amendments aim at a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date.
Cloud Computing Arrangements [Completed]	Cloud Computing Arrangements
Compilation Engagements (Amendments to Section 9200) [Completed]	This project will include determining the nature and extent of revisions that should be made to Section 9200, "Compilation Engagements", and may involve adoption of International Standard on Related Services (ISRS) 4410 (Revised), "Compilation Engagements", which was issued by the IAASB in March 2012. ISRS 4410 (Revised) is effective for compilation engagement reports dated on or after July 1, 2013.
Conforming Amendments to the IAASB’s International Auditing Standards as a Result of the Revised IESBA Code [Completed]	This project is intended to ensure that the IAASB's International Standards can continue to be applied together with the IESBA Code.
Consultation on the 2019 Revisions to the Federal Financial Sector Framework in Canada [Completed]	The Department of Finance Canada launched the second stage of consultations on the renewal of the federal financial sector legislative and regulatory framework (namely the Bank, Act, the Insurance Companies, Act, the Trust and Loan Companies Act and the Cooperative Credit Associations) prior to the statutory sunset date of March 29, 2019.
COSO Enterprise Risk Management - Aligning Risk with Strategy and Performance (Amendments to COSO’s ERM Framework) [Completed]	COSO issued a proposal, “Enterprise Risk Management — Aligning Risk With Strategy and Performance,” which addresses the increasing complexity of risk and new risks that have developed since the issuance of its 2004 enterprise risk management (ERM) framework.
CPAB Project - Audit Quality Indicators (AQIs) [Completed]	The aim of audit quality indicators (AQIs) project is to enhance the discussion of audit quality among stakeholders and provide a way for audit firms to show their commitment to, and compete on, audit quality.
CPAB Project – Audit Committee Communications [Completed]	The objectives of this project include: (i) to better understand the quality and efficacy of communications between auditors and audit committees through multi-stakeholder dialogue and case study analysis; and (ii) to identify best practices that can be broadly shared with audit firms, audit committees and preparers.
CPAB Project – Comprehensive Review of the Auditor [Completed]	The objectives of this project include: (i) to better understand the challenges around auditor evaluation; (ii) to identify best practices in performing a comprehensive review for sharing with the audit firm, audit committee and preparer communities; and (iii) to obtain feedback on the current comprehensive review tools and guidance.
CPAB Project – Fraud in an Audit of Financial Statements [Completed]	The objective of this project is to focus on how far an auditor’s responsibility extends in detecting fraud in an audit of the financial statements
CPAB Project – Going Concern [Completed]	This project enhances our understanding of how auditors approach their work to review management’s assessment of going concern risk.
CSA - Climate change disclosure review project [Completed]	Canadian Securities Administrators’ project to review the disclosure of risks and financial impacts associated with climate change.
CSA – Changes to auditor oversight rules for audit firms re CPAB access to working papers (Amendments to National Instrument 52-108) [Completed]	The objective of this project is to provide the Canadian Public Accountability Board with improved ability to perform audit inspections.
CSA – Initiatives to Reduce Regulatory Burden for Investment Funds (National Instruments 41-101, 81-101, 81-102, 81-106 and 81-107) [Completed]	The amendments implement eight initiatives to reduce regulatory burden for investment funds. The changes eliminate duplicative requirements, streamline regulatory approvals and processes, and codify frequently granted exemptions from certain requirements.
CSA – Proposal to harmonize the interpretation of the Primary Business Requirements [Completed]	CSA proposal to harmonize the interpretation of the primary business requirements
CSA – Proposed changes to the offering memorandum prospectus exemption (Amendments to National Instrument 45-106 "Prospectus Exemptions") [Completed]	The proposed amendments set out new disclosure requirements for issuers that are engaged in “real estate activities” or issuers that are “collective investment vehicles”.
CSA – Streamlined capital raising option for Canadian-listed issuers [Completed]	CSA proposed streamlined capital raising option for Canadian-listed issuers
CSA –Harmonized Rules for Securities Crowdfunding of Start-ups (National Instrument 45-110) [Completed]	The proposals represent harmonized rules for start-up securities crowdfunding that would become effective in British Columbia, Alberta, Saskatchewan, Manitoba, Québec, New Brunswick and Nova Scotia
CSA Consultation Paper 52-404, Approach to Director and Audit Committee Member Independence [Completed]	The purpose of the CSA Consultation Paper 52-404 "Approach to Director and Audit Committee Member Independence" is to facilitate a broad discussion on the appropriateness of the CSA’s approach to determining director and audit committee member independence.
CSA Proposals to Reduce the Regulatory Burden for Non-Investment Fund Reporting Issuers [Completed]	This project identifies potential options for reducing the regulatory burden associated with capital raising in the public markets and the ongoing costs of remaining a reporting issuer.
CSAE 3000, Attestation Engagements Other than Audits or Reviews of Historical Financial Information, and CSAE 3001, Direct Engagements [Completed]	These two new Canadian Standards on Assurance Engagements (CSAEs) replace (i) Section 5025, "Standards for Assurance Engagements other than Audits of Financial Statements and Other Historical Financial Information"; (ii) Section 5030, "Quality Control Procedures for Assurance Engagements other than Audits of Financial Statements and Other Historical Financial Information"; (iii) Section 5049, "Use of Specialists in Assurance Engagements other than Audits of Financial Statements and Other Historical Financial Information"; and (iv) Section 5050, "Using the Work of Internal Audit in Assurance Engagements other than Audits of Financial Statements and Other Historical Financial Information".
Data Analytics – IAASB [Completed]	Technological change is occurring at a rapid pace, ushering in the capability to capture and communicate data digitally, on an unprecedented scale and almost instantaneously. This has resulted in an increasing focus on data, whether structured or unstructured, and whether generated internally or externally to the entity.
Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) [Completed]	The amendments narrowed the scope of the recognition exemption in paragraphs 15 and 24 of IAS 12 (recognition exemption) so that it no longer applies to transactions that, on initial recognition, give rise to equal taxable and deductible temporary differences. At its meeting on October 24, 2018, the International Accounting Standards Board discussed the IFRS Interpretations Committee’s recommendation to propose a narrow-scope amendment to IAS 12, Income Taxes. The proposed amendment relates to the recognition of deferred tax when an entity accounts for transactions, such as leases or decommissioning obligations, by recognizing both an asset and a liability.
Definition of a Business (Amendments to IFRS 3) [Completed]	The Post-Implementation Review of IFRS 3, Business Combinations (the PIR of IFRS 3) in 2014 concluded that the definition of a business is one of the top four concerns with IFRS 3.
Disclosure Initiative — Definition of Material (Amendments to IAS 1 and IAS 8) [Completed]	The objective of this project is to refine the definition of materiality and clarify its characteristics.
Disclosure initiative — Principles of disclosure [Completed]	This project on financial statement presentation is focused on broader challenges associated with disclosure effectiveness, which ultimately may lead to a replacement for IAS 1, IAS 7, and IAS 8, in essence developing a disclosure framework for IFRS.
Disclosure initiative — Accounting Policies [Completed]	The objective of this project was to develop guidance and examples to help entities apply materiality judgements to accounting policy disclosure.
Disclosure initiative — Materiality [Completed]	This project seeks to help preparers, auditors and regulators use judgement when applying the concept of materiality in order to make financial reports more meaningful.
Disclosure initiative — Targeted Standards-level Review of Disclosures [Completed]	The purpose of this project is to perform a targeted Standards-level review of disclosure requirements.
Discount Rates [Completed]	The objective of this project was to investigate reasons for inconsistencies between requirements relating to discount rates in IFRS Standards and assess whether the Board should consider addressing those inconsistencies.
Due Process Handbook Review [Completed]	The Due Process Oversight Committee decided to undertake a further review to ensure its Handbook continues to be fit for purpose.
Effective Date of IFRS 15 - One-year deferral [Completed]	The IASB unanimously affirmed its proposal to defer the effective date of IFRS 15 Revenue From Contracts With Customers to January 1, 2018.
Employee Future Benefits – Use of a Funding Valuation [Completed]	This project will clarify the AcSB’s intent regarding the Stabilization Provision established in 2016 by Quebec’s pension regulator for private sector plans.
Enhancing Audit Quality in the Public Interest: A Focus on Professional Skepticism, Quality Control, and Group Audits (Possible Amendments to CAS 200, CAS 220, CAS 315, CAS 600 and CSQC 1) [Completed]	This project highlights the IAASB’s discussions on the topics of professional skepticism, quality control and group audits and flags potential standard-setting activities the IAASB could take to enhance audit quality.
Extractive Industries (Possible replacement of IFRS 6, Exploration for and Evaluation of Mineral Resources) [Completed]	The IASB is gathering evidence to help decide whether to start a project to develop proposals to replace IFRS 6, Exploration for and Evaluation of Mineral Resources.
Fraud and Going Concern in an Audit of Financial Statements [Completed]	The objective of this project is to gather perspectives from a broad range of stakeholders across the financial reporting ecosystem about the role of the auditor in relation to fraud and going concern in an audit of financial statements
Government of Canada: Proposed New Regulations in respect of Mandatory Reporting of Data Breaches under PIPEDA [Completed]	The Government of Canada published new regulations, which set out details regarding the mandatory data breach reporting requirements under the Personal Information Protection and Electronic Documents Act.
Group Audits [Completed]	The objective of this project was to determine the nature of the IAASB’s response to issues that have been identified relating to group audits.
IAASB: Conforming Amendments to its Other Standards and Framework due to the Revised Quality Management Standards [Completed]	This project addresses the changes in some of its standards and framework resulting from the new and revised quality management standards.
IAASB: Post-implementation Review of the New Auditor Reporting Standards [Completed]	To provide ongoing support of these standards, the AASB is obtaining Canadian stakeholders’ views on the enhanced auditor reporting standards via its AASB Auditing Reporting PIR Stakeholder Survey
IASB’s Third Agenda Consultation [Completed]	The IASB is required to undertake a public consultation on its work plan every five years. The primary objective of the agenda consultation is to seek formal public input on the strategic direction and balance of the Board’s work plan.
IBOR Reform and the Effects on Financial Reporting – Phase II [Completed]	The objective of this project is to assess the potential financial reporting implications when an existing interest rate benchmark is replaced with an alternative interest rate (replacement issues).
IBOR Reform and the Effects on Financial Reporting – Phase I [Completed]	The objective of this project is to discuss the interbank offered rate (IBOR) reform and its effects on financial reporting.
Identifying and Assessing the Risks of Material Misstatement [Completed]	ISA 315 (Revised) deals with the auditor’s responsibility to identify and assess the risks of material misstatement in the financial statements, through understanding the entity and its environment, including the entity’s internal control.
IESBA Changes to Part 4B of the Code to align it to changes to terms and concepts in the IAASB’s International Standard on Assurance Engagements (ISAE) 3000 (Revised) [Completed]	The objective of this project is to review and compare the terms and concepts in the revised and restructured Code and the IAASB’s ISAE 3000.
IESBA Long Association Post Implementation Review – Phase I [Completed]	This update provides an overview of Phase 1 of the LAPIR which will review the implementation of a specific partner rotation provision for engagement partners around the world with respect to audits of public interest entities.
IESBA Proposed Changes to the Code of Ethics: Definitions of Listed Entity and PIE (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [Completed]	The objective of this project was to review the definitions of the terms “listed entity” and “public interest entity” (PIE) in the Code, with the aim of revising them as necessary so that they remain relevant and fit for purpose.
IESBA Proposed Changes to the Code of Ethics: Revisions to address Engagement Team –Group Audits Independence (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [Completed]	IESBA proposed changes to the Code of Ethics: Revisions to address Engagement Team – Group Audits Independence
IESBA Proposed Changes to the Code of Ethics: Addressing the Objectivity of Engagement Quality Reviewers (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [Completed]	This project provides guidance on the application of the conceptual framework in the Code to address the topic of the objectivity of an engagement quality reviewer (EQR), thereby supporting proposed ISQM 2 in addressing the matter of the eligibility of an individual to serve in an EQR role.
IESBA Proposed Quality Management-related Conforming Amendments to the Code (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [Completed]	IESBA Proposed Quality Management-related Conforming Amendments to the Code (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204)
IESBA Proposed Technology-related Revisions to the Code (Potential Amendments to Harmonized Rule of Professional Conduct, Rule 204) [Completed]	This project seeks to enhance the Code’s robustness and expand its relevance in an environment being reshaped by rapid technological advancements
IFRIC 23: Accounting for Uncertainties in Income Taxes (IAS 12) [Completed]	The interpretation is to be applied to the determination of taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates, when there is uncertainty over income tax treatments under IAS 12.
IFRIC Interpretation of IAS 21 The Effects of Changes in Foreign Exchange Rates: Foreign currency transactions and advance consideration [Completed]	The IFRS Interpretations Committee received a submission asking how to determine which exchange rate to use when reporting revenue transactions denominated in a foreign currency in accordance with IAS 21, "The Effects of Changes in Foreign Exchange Rates."
IFRS 16 and Covid 19 [Completed]	This project provides practical relief to lessees in accounting for rent concessions arising as a result of the Covid 19 pandemic
IFRS 17, Insurance Contracts [Completed]	The new standard requires insurance liabilities to be measured at a current fulfillment value and provides a more uniform measurement and presentation approach for all insurance contracts.
IFRS Accounting Taxonomy 2022, Proposed Update 2—Amendments to IFRS 16 and IAS 1 [Completed]	The Proposed IFRS Taxonomy Update includes changes to the IFRS Accounting Taxonomy elements to reflect the new and amended disclosure requirements introduced by these amendments
IFRS Accounting Taxonomy Update — Amendments to IAS 12, IAS 21, IAS 7 and IFRS 7 [Completed]	When the International Accounting Standards Board (IASB) issues new IFRS Accounting Standards or amendments to existing IFRS Accounting Standards, it also updates the IFRS Accounting Taxonomy to reflect new or amended presentation and disclosure requirements. These updates ensure that the IFRS Accounting Taxonomy accurately reflects IFRS Accounting Standards.
IFRS Foundation consultation on amending its Constitution to establish an International Sustainability Standards Board (ISSB) [Completed]	The Trustees of the IFRS Foundation amended the IFRS Foundation Constitution to enable the creation of a new sustainability standards board under the governance of the Foundation.
IFRS Foundation consultation on establishing a sustainability standards board [Completed]	The objective of this project is to assess demand for global sustainability standards and what role the Foundation might play in the development of such standards.
IFRS Taxonomy 2017 [Completed]	The IFRS Taxonomy 2017 incorporates the IFRS Taxonomy Update 1 and IFRS Taxonomy 2 published since the annual IFRS Taxonomy 2016.
IFRS Taxonomy Proposed Update, Disclosure of Accounting Policies and Definition of Accounting Estimates [Completed]	The proposed taxonomy update includes changes to the IFRS Taxonomy elements to reflect new and amended disclosure requirements.
IFRS Taxonomy Update (Amendments to IFRS 17, IFRS 4 and IAS 16) [Completed]	The Update reflects the amendments to the new and old insurance contracts Standards, IFRS 17 and IFRS 4, issued in June 2020—Amendments to IFRS 17 and Extension of the Temporary Exemption from Applying IFRS 9; and IAS 16, issued in May 2020—Property, Plant and Equipment—Proceeds before Intended Use.
IFRS Taxonomy Update (General Improvements and Common Practice — IAS 19, Employee Benefits) [Completed]	The update includes elements to reflect common reporting practice and new and amended labels to clarify the accounting meaning and intended use of some existing elements.
IFRS Taxonomy Update (General Improvements and Common Practice — Presentation of Information in Primary Financial Statements [Completed]	The update includes elements to reflect common reporting practice and new and amended labels to clarify the accounting meaning and intended use of some existing elements.
IFRS Taxonomy Update (Interest Rate Benchmark Reform – Phase 2) [Completed]	The update reflects the Interest Rate Benchmark Reform—Phase 2, issued in August 2020, which amends IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16
IFRS Taxonomy Update — Common Practice (IFRS 13, Fair Value Measurement) [Completed]	The Proposed IFRS Taxonomy Update 1/2018 includes changes to the IFRS Taxonomy 2018 reflecting common reporting practice for the disclosure requirements in IFRS 13, including: (i) sensitivity of fair value measurement to changes in unobservable inputs; and (ii) quantitative information about significant unobservable inputs used in fair value measurement.
IFRS Taxonomy Update for Covid-19-Related Rent Concessions (Amendments to IFRS 16) [Completed]	This project incorporates the IFRS Taxonomy elements for these amendments to IFRS 16
IFRS Taxonomy Update for IFRS 17, Insurance Contracts [Completed]	Updates to the IFRS Taxonomy contain additional taxonomy concepts that reflect new Standards and amendments to Standards issued by the Board.
IFRS Taxonomy Update, 2021 Technology Update [Completed]	The proposed changes aim to reflect developments in the technology that underlies or relates to the IFRS Taxonomy.
IFRS Taxonomy Update—2018 General Improvements [Completed]	The IFRS Taxonomy team is currently reviewing a number of improvements to the IFRS Taxonomy 2018 to support consistent tagging.
IFRS Taxonomy Update—Interest Rate Benchmark Reform Part I (Amendments to IFRS 9, IAS 39 and IFRS 7) [Completed]	The IASB plans to make changes to the IFRS Taxonomy to reflect the disclosure requirements introduced by Interest Rate Benchmark Reform Part I
IFRS Taxonomy Update: Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17) [Completed]	The proposed changes reflect those made by the amendments to IFRS 17 on Initial Application of IFRS 17 and IFRS 9—Comparative Information
IFRS Taxonomy, Proposed Update 1, General Improvements and Common Practice [Completed]	The proposed changes aim to improve the quality of tagged data and to make the IFRS Accounting Taxonomy easier to use
IFRS® Taxonomy Update - Update for Annual Improvements to the IFRS Taxonomy 2017 [Completed]	Annual Improvements are changes to the IFRS Taxonomy other than those resulting from changes to IFRS Standards and analysis of common reporting practice.
IFRS® Taxonomy Update-Prepayment Features with Negative Compensation (Amendments to IFRS 9) [Completed]	The IFRS Foundation published “Proposed Update to the IFRS Taxonomy” for the project Prepayment Features with Negative Compensation (Amendments to IFRS 9).
Improvements to Accounting for Common Control Combinations [Completed]	This project clarifies that financial instruments acquired in a common control transaction should be measured using the principles in Section 3840
Improvements to IFRS 8, Operating Segments [Completed]	As part of the post-implementation review, the International Accounting Standards Board identified a number of issues that could be considered for improvement and that warrant further investigation.
Initial Application of IFRS 17 and IFRS 9―Comparative Information (Amendments to IFRS 17) [Completed]	Narrow-scope amendment to the transition requirements of IFRS 17, Insurance Contracts.
Integrated Reporting Framework [Completed]	The primary purpose of an integrated report is to explain to providers of financial capital how an organization creates value over time.
Interest Rate Benchmark (IBOR) Reform [Completed]	This amendment would provide an optional expedient for applying debt modification accounting and an exception to certain hedge accounting requirements in Section 3856.
International Tax Reform—Pillar Two Model Rules: Potential amendments to IAS 12, Income Taxes [Completed]	The proposed amendments introduce a temporary exception from accounting for deferred taxes arising from the implementation of the OECD’s Pillar Two model rules, as well as targeted disclosures for affected entities
Investments and Income Taxes (Proposed Amendments to Sections 3051 and 3465) [Completed]	This project clarifies the applicability of the cost-method guidance in Section 3051, Investments; and revises and updates Section 3465, Income Taxes, to remove an outdated example and requires future income tax assets and liabilities to be presented as non-current.
ISSB: Climate-related Disclosures [Completed]	The ISSB have published the Exposure Draft, “Climate-related Disclosures” that builds on the Technical Readiness Working Group (TRWG) prototype of the same name that was issued in November 2021. The resulting standard would be the first thematic standard of the ISSB.
ISSB: General Requirements for Disclosure of Sustainability-related Financial Information [Completed]	The ISSB have published the Exposure Draft, "General Requirements for Disclosure of Sustainability-related Financial Information" that builds on the Technical Readiness Working Group (TRWG) prototype of the same name that was issued in November 2021. The resulting standard would be the first general presentation standard of the ISSB.
Lack of Exchangeability (Possible Amendments to IAS 21) [Completed]	The objective of this project is to undertake narrow-scope standard-setting on the spot exchange rate an entity uses when exchangeability between two currencies is lacking
Lease Liability in a Sale and Leaseback [Completed]	The objective of this project amends IFRS 16 to specify how the seller-lessee applies the subsequent measurement requirements in IFRS 16 to the lease liability that arises in a sale and leaseback transaction.
Leases – Accounting for rent concessions as a result of the COVID-19 pandemic (Amendments to Section 3065) [Completed]	The objective of this project is to provide relief for both lessees and lessors on accounting for rent concessions as a result of the COVID-19 pandemic
Leases – Accounting for rent concessions as a result of the COVID-19 pandemic (Further amendments to Section 3065) [Completed]	Leases – Accounting for rent concessions as a result of the COVID-19 pandemic (Further amendments to Section 3065) [Completed]
Long-term Interests in Associates and Joint Ventures (Amendments to IAS 28) [Completed]	This project discussed whether the measurement, in particular relating to impairment, of long term interests in associates and joint ventures that, in substance, form part of the ‘net investment’ in the associate or joint venture should be governed by IFRS 9, IAS 28 or a combination of both.
Narrow-scope amendments to IAS 19 and IFRIC 14 — Remeasurement on a plan amendment, curtailment or settlement / Availability of a refund of a surplus from a defined benefit plan [Completed]	Narrow-focus amendments to IAS 19, "Employee Benefits", and IFRIC 14, "The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction"
National Instrument 52-112, Non-GAAP and Other Financial Measures Disclosure [Completed]	The Instrument provides authoritative Canadian securities legislative requirements for issuers when they disclose non-GAAP and other financial measures.
New Auditor Reporting (Amendments to CAS 700, CAS 705, CAS 706, CAS 260 and CAS 570 and new CAS 701) [Completed]	Users of audited financial statements are asking auditors to provide more information in their reports about significant matters in the financial statements, as well as about the conduct of the audit. The IAASB and the AASB believe that a quality audit should be accompanied by an informative auditor’s report that delivers value to the entity’s stakeholders.
New Auditor Reporting – Summary Financial Statements (Amendments to CAS 810, Engagements to Report on Summary Financial Statements) [Completed]	The IAASB released ISA 810 (Revised), "Engagements to Report on Summary Financial Statements," resulting from the significant revisions to its auditor reporting standards. Revisions that the IAASB makes to this standard will be reflected in the equivalent CAS [CAS 810, "Engagements to Report on Summary Financial Statements"] with limited Canadian-specific amendments, if any are necessary.
New Auditor Reporting – Special Considerations (Amendments to CAS 800 and CAS 805) [Completed]	Amendments to CAS 800, "Special Considerations – Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks" and CAS 805, "Special Considerations – Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement", resulting from the revisions to its auditor reporting standards.
Non-current Liabilities with Covenants (Amendments to IAS 1) [Completed]	The amendments improved the information an entity provides when its right to defer settlement of a liability for at least twelve months is subject to compliance with covenants. The amendments also responded to stakeholders’ concerns about the classification of such a liability as current or non-current.
Onerous Contracts—Cost of Fulfilling a Contract (Amendments to IAS 37) [Completed]	This project clarifies the meaning of the term "unavoidable costs" in the IAS 37 definition of an onerous contract.
OSC Proposed Change to Policy 15-601, Whistleblower Program [Completed]	The OSC is proposing a change to the Policy to clarify that in-house counsel who report information under the Policy in breach of applicable provincial or territorial bar or law society rules or equivalent rules applicable in another jurisdiction will not be eligible for a whistleblower award.
OSFI consultation on technology risks in the financial sector [Completed]	The project focuses on risks arising from rapid technological advancement and digitalization, as these trends impact the stability of the Canadian financial sector
OSFI Draft Guideline: Derivatives Sound Practices for Federally Regulated Private Pension Plans [Completed]	OSFI issued a revised draft derivatives guideline “Derivatives Sound Practices for Federally Regulated Private Pension Plans”. When finalized, the Draft Guideline will replace the 1997 guideline “Derivatives Best Practices” that first outlined expectations for federally regulated private pension plans with respect to derivative activities.
Pension Benefits that Depend on Asset Returns (Possible amendments to IAS 19) [Completed]	The objective of this project is to develop proposals for targeted amendments to the requirements for defined benefit plans in IAS 19, Employee Benefits.
Pension Plans 2023 Annual Improvements [Completed]	The AcSB discussed feedback from its Pension Plan Working Group on disclosures for buy-in annuity contracts under Section 4600, Pension Plans. In December 2022, Section 4600 was amended to introduce new guidance specific to buy-in annuity contracts. Those amendments require buy-in annuity contracts to be measured at a value equal to the related benefit obligation instead of at fair value.
Possible 2022 Revisions to the Standards for Pension Plans [Completed]	Possible revisions to the Standards for Pension Plans
Post-implementation review — IFRS 3	This review was seeking feedback on whether the Standard provides information that is useful to users of financial statements, whether there are areas of the Standard that represent implementation challenges and whether unexpected costs have arisen when preparing, auditing or enforcing the requirements of the Standard.
Post-implementation review of IFRS 13 Fair Value Measurement [Completed]	The objective of the post-implementation review is to assess the effect of the new requirements of IFRS 13, Fair Value Measurement, on investors, preparers and auditors.
Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12 [Completed]	The IASB conducts a Post-implementation Review (PIR) of each new IFRS Standard or major amendment. A PIR is a mandatory step in the due process for new IFRS Standards or major amendments to IFRS Standards.
Post-implementation Review of IFRS 9 – Classification and Measurement [Completed]	The IASB conducts a Post-implementation Review (PIR) of each new IFRS Standard or major amendment. A PIR is a mandatory step in the due process for new IFRS Standards or major amendments to IFRS Standards.
Prepayment Features with Negative Compensation (Amendments to IFRS 9) [Completed]	The objective of the project is to examine whether amortized cost measurement would provide relevant and useful information for instruments that contain symmetric prepayment options and otherwise have contractual cash flows that are solely payments of principal and interest (SPPI).
Previously Held Interests in a Joint Operation (Amendments to IFRS 3 and IFRS 11) [Completed]	The amendments to IFRS 3 clarify that when an entity obtains control of a business that is a joint operation, it remeasures previously held interests in that business. The amendments to IFRS 11 clarify that when an entity obtains joint control of a business that is a joint operation, the entity does not remeasure previously held interests in that business.
Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) [Completed]	The purpose of this project is to clarify the accounting for the net proceeds from selling any items produced while bringing an item of property, plant and equipment (PPE) into use.
Proposed Changes to TSX Rules Governing Special Purpose Acquisition Corporations [Completed]	Proposed amendments to Part X — Special Purpose Acquisition Corporations of the TSX Company Manual.
Proposed New Multilateral Instrument 45-109, Prospectus Exemption for Start-up Businesses [Completed]	The Alberta Securities Commission and the Nunavut Securities Office published for comment Proposed Multilateral Instrument 45-109, Prospectus Exemption for Start-up Businesses, which sets out a proposed prospectus exemption to facilitate capital raising by start-up and early stage companies.
PSAB - Asset Retirement Obligations [Completed]	This project addresses the accounting and reporting of asset retirement obligations.
PSAB - Concepts Underlying Financial Performance - Overview [Completed]	The objective of this project is to review and amend, if necessary, the conceptual framework in Sections PS 1000, Financial Statement Concepts, and PS 1100, Financial Statement Objectives. This review could also affect Section PS 1200, Financial Statement Presentation.
PSAB - Concepts Underlying Financial Performance - Measuring Financial Performance in Public Sector Financial Statements [Completed]	The Conceptual Framework Task Force has undertaken a comprehensive review of the concepts that underlie the reporting of financial performance in the general purpose financial statements of public sector entities.
PSAB - Concepts Underlying Financial Performance - Conceptual Framework Fundamentals and the Reporting Model [Completed]	The CP proposes a new reporting model and draft principles on public sector characteristics, financial statement objectives, qualitative characteristics, elements, recognition, measurement and presentation.
PSAB - Financial Instruments – Narrow Scope Amendments [Completed]	The purpose of this project is to investigate three non-hedge accounting issues.
PSAB - Financial Instruments – Subsequent Issues [Completed]	The proposed amendments clarify aspects of the Section’s scope of application and add transitional provisions and new guidance
PSAB - Government Not-for-Profit Strategy [Completed]	The objective of this project is to reassess the government not-for-profit (GNFP) strategy.
PSAB - Improvements to Not-for-Profit Standards in the public sector [Completed]	The SOP includes 15 proposed principles which should underlie accounting standards for NFPOs.
PSAB - Proposal to Modify the Canadian Public Sector GAAP Hierarchy [Completed]	The objective of this project is to clarify the GAAP hierarchy on matters not covered by primary sources of GAAP or for assistance in applying primary source of GAAP.
PSAB - Public Private Partnerships [Completed]	The objective is to develop a public sector accounting standard specific to accounting for public private partnerships
PSAB - Revenue [Completed]	The SOP includes proposals on issues that affect when revenue is recognized, how it is measured, as well as its presentation and disclosure.
PSAB - Review of International Strategy [Completed]	The objective of this project was to review the PSAB’s current strategy with respect to the work of the International Public Sector Accounting Standards Board and its IPSASs.
PSAB - Strategic Plan for 2017 – 2021 [Completed]	PSAB - Strategic Plan for 2017 – 2021
PSAB - Withdrawal of Disclosure of Related Party Transactions by Not-for-Profit Organizations, Section PS 4260 [Completed]	The PSAB intends that, for NFPOs that apply the PSA Handbook with Sections PS 4200 to PS 4270 to prepare their financial statements, Section 2200 would apply to fiscal years beginning on or after January 1, 2018. Earlier adoption would be permitted. The Section would be applied prospectively.
PSAB – 2018 – 2019 Annual Improvements Project [Completed]	The objective of this project is to correct errors in the wording or clarify the CPA Canada Public Sector Accounting (PSA) Handbook or Statements of Recommended Practices (other guidance).
PSAB – 2019-2020 Annual Improvements Project [Completed]	The Public Sector Accounting Board has adopted an annual improvements process to make minor improvements to the CPA Canada Public Sector Accounting (PSA) Handbook or Statements of Recommended Practices.
PSAB – Purchased Intangibles – Narrow Scope Amendment [Completed]	The objective of this project is to revisit the validity of the prohibition against recognizing purchased intangibles in public sector financial statements.
PSAB: A Revised Conceptual Framework for the Canadian Public Sector [Completed]	The proposed revised conceptual framework is intended to replace Section PS 1000, Financial Statement Concepts and Section PS 1100, Financial Statement Objectives.
PSAB: A Revised Reporting Model for the Canadian Public Sector [Completed]	The PSAB proposes to expose a proposed revised Section on financial statement presentation. The proposed revised Section would replace Section PS 1201, Financial Statement Presentation.
Quality Management [Completed]	This project proposes to bring important changes to the way professional accountancy firms are expected to manage quality, for audits, reviews, and other assurance and related services engagements.
Recent Developments with respect to Sustainability Reporting [Completed]	Sustainability reporting generally encompasses more than merely disclosure of environmental issues that affect entities, such as climate change and carbon emissions.
Reporting on Controls at a Service Organization (Amendments to CSAE 3416) [Completed]	The objective of this project is to update CSAE 3416, Reporting on Controls at a Service Organization, which was issued in 2010.
Reports on the Application of Accounting Principles (Possible Amendments to Section 7600) [Completed]	Opinion shopping services, as described in Section 7600, "Reports on the Application of Accounting Principles", are only rarely performed in practice today. Preliminary research suggests that entities (particularly public companies) do not ask their auditors for guidance when making accounting or financial statement disclosure decisions. Instead, entities are engaging practitioners other than their auditors to provide advice on the appropriate application of complex aspects of a financial reporting framework.
Retractable or Mandatorily Redeemable Shares Issued in a Tax Planning Arrangement (Proposed Amendments to Sections 1591, 3251 and 3856) [Completed]	Under the proposals, paragraph 3856.23, requiring redeemable preferred shares issued in a tax planning arrangement under specific sections of the Income Tax Act to be presented as equity, would be deleted.
Revisions to the Joint Policy Statement (JPS) Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors [Completed]	This project proposes to revise the Joint Policy Statement Concerning Communications between Actuaries Involved in the Preparation of Financial Statements and Auditors
SASB’s Industry-specific Sustainability Accounting Disclosure Standards [Completed]	This project reflects the nature of sustainability issues, which are often newly emerging, frequently evolving, and increasingly well understood.
SASB: Update of its Conceptual Framework [Deemed completed on transfer to the ISSB]	The purpose of this Conceptual Framework project is to clarify and strengthen these core principles and concepts that govern SASB’s Standards.
Share-based Payment—Sources of Accounting Complexity [Completed]	The objective of this project is to identify the most common areas of complexity of IFRS 2, Share-based Payment and their main causes. To achieve this, the project identifies and explores the main application issues that arise in practice.
Supplier Finance Arrangements (Proposed amendments to IAS 7 and IFRS 7) [Completed]	At its meeting on June 23. 2021, the Board decided to add a narrow-scope standard-setting project to its work plan on supplier finance arrangements.
TCFD consultation on climate-related financial disclosures [Completed]	The TCFD has developed four widely adoptable recommendations on climate-related financial disclosures that are applicable to organizations across sectors and jurisdictions.
The Auditor’s Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements (Amendments to CAS 720) [Completed]	Project to revise ISA 720, "The Auditor’s Responsibilities Relating to Other Information in Documents Containing Audited Financial Statements", in order to ensure that it continues to be capable of enhancing the credibility of financial statements.
Transfer of Investment Property (Amendments to IAS 40) [Completed]	This project addresses the question of whether an investment property under construction should be transferred from inventory to investment property when there is an evident change in use.
Update of Public Sector Auditing Standards (Phase I - Amendments to Sections PS 5300) [Completed]	The objective of this project is to update the Sections in the Handbook dealing with the special circumstances that may apply to the audits of public sector entities.
Updated Guidance for Performance Audits in the Public Sector (Replacing Sections PS5000, PS 5400, PS 6410 and PS 6420) [Completed]	The objective of this project is to update the Sections in the Handbook dealing with the special circumstances that may apply to the audits of public sector entities.
Updating a Reference to the Conceptual Framework (Amendments to IFRS 3) [Completed]	The objective of this project is to decide whether and, if so, how to update IFRS 3 so that the Standard instead refers to the Conceptual Framework for Financial Reporting, which the Board issued in March 2018.

Project	Summary
ASNPO Contributions – Revenue Recognition and Related Matters (Possible Amendments to Sections 4400, 4410 and 4420) [ED]	This project is being undertaken in response to the feedback from private sector stakeholders to the April 2013 AcSB/PSAB Joint Statement of Principles, Improvements to Not-for-Profit Standards.
Climate-related and Other Uncertainties in the Financial Statements [Research]	The purpose of this project is to explore whether and how financial statements can better communicate information about climate-related risks.
Equity Method (Possible amendments to IAS 28) [Research]	The IASB is undertaking research to assess whether application problems with the equity method as set out in IAS 28, Investments in Associates and Joint Ventures, can be addressed in consolidated and individual financial statements by identifying and explaining the principles of IAS 28
Evaluating the Preface to the CPA Canada Handbook – Accounting [Research]	As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to evaluating the CPA Canada Handbook – Accounting’s Preface to assess whether the applicability of each framework to each reporting entity category meets current needs.
Evaluating the Preface to the CPA Canada Handbook – Accounting [Research]	As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to evaluating the CPA Canada Handbook – Accounting’s Preface to assess whether the applicability of each framework to each reporting entity category meets current needs.
Evaluating the Preface to the CPA Canada Handbook – Accounting [Research]	As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to evaluating the CPA Canada Handbook – Accounting’s Preface to assess whether the applicability of each framework to each reporting entity category meets current needs.
Evaluating the Preface to the CPA Canada Handbook – Accounting [Research]	As part of the AcSB’s 2022-2027 Strategic Plan, the AcSB committed to evaluating the CPA Canada Handbook – Accounting’s Preface to assess whether the applicability of each framework to each reporting entity category meets current needs.
Financial Statement Concepts [Research]	The purpose of the project is to amend the guidance in Section 1000, Financial Statement Concepts, of Part II of the CPA Canada Handbook - Accounting to be consistent with the IASB’s Conceptual Framework.
Future-Oriented Financial Information (Possible Amendments to AuG-6 and AuG-16) [Research]	This project will determine what authoritative guidance, if any, is needed in the CPA Canada Handbook to address assurance matters pertaining to future-oriented financial information.
Government Not-for-Profit Entities: Capital Assets [Research]	PSAB is embarking on implementing its GNFP Strategy (approved in March 2022) to incorporate the PS 4200 series into Public Sector Accounting Standards (PSAS) with potential customizations.
Intangibles Assets and Cloud Computing Arrangements [Research]	Intangibles Assets and Cloud Computing Arrangements [Research]
Joint IFAC and IIRC Project: Accelerating Integrated Reporting Assurance [Research]	This project recognizes that new thinking is required to determine what comprises integrated report assurance and how to best deliver it, given integrated reporting’s broad and forward-looking focus on value creation.
Pollutant Pricing Mechanisms (formerly Emissions Trading Schemes) [Research]	The objective of the project is to develop comprehensive guidance on the accounting for emissions trading schemes.
Power Purchase Agreements - Proposed amendments to IFRS 9 and IFRS 7 [Research]	Power Purchase Agreements - Proposed amendments to IFRS 9 and IFRS 7 [Research]
Provisions (Possible Amendments to IAS 37) [Research]	The IASB is updating its IAS 37 research to decide whether to start a project to develop proposals to amend aspects of IAS 37 and, if so, which aspects of IAS 37 to amend.
Research Improvements to Section 4450 Reporting Controlled and Related Entities by Not-for-Profit Organizations [Research]	The Accounting Standards Board (AcSB) is undertaking research to consider improvements to Section 4450, Reporting Controlled and Related Entities by Not-for-Profit Organizations.
Subsequent Measurement of Goodwill and Recognition of Acquired Intangible Assets [Research]	The AcSB is performing research to better understand the current challenges with the recognition of intangible assets acquired in a business combination and the subsequent measurement of goodwill

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