Date

Development

Comments

April 2010

Part IV of the CPA Canada Handbook  issued

Effective for fiscal years beginning on or after January 1, 2011. Earlier application permitted.

August 2010

Removal of an inconsistency

Paragraph 25(a) has been amended and paragraphs 25A-25B have been added to permit a pension plan to present the details of investment income by type of investment either on the face of the statement of changes in net assets available for benefits or in the notes to the financial statements. These amendments address an inconsistency with the presentation of the details of investment assets and investment liabilities.

Effective for fiscal years beginning on or after January 1, 2011. Earlier application permitted.

November 2011

Fair value measurement amendments

The definition of fair value in paragraph 05(l) has been deleted and paragraph .19 has been amended to require a pension plan to follow the fair value measurement guidance of IFRS 13 Fair Value Measurement in Part I of the Handbook in determining fair value for its investment assets and investment liabilities. Consistent with this change regarding measurement, the recognition requirements in paragraph 18 have been amended to refer generally to either Part I or Part II of the Handbook. Paragraphs 38-39 have been amended and paragraphs 40-41 have been added to deal with a pension plan's transition to the amended requirements.

Prior to adopting the fair value measurement guidance in IFRS 13, a pension plan refers to the guidance on fair value measurement in IAS 39 Financial Instruments: Recognition and Measurement in Part I of the Handbook.

The amendments are effective for annual periods beginning on or after January 1, 2013. Earlier application of IFRS 13 is permitted provided that the pension plan discloses that fact and the measurement requirements are applied to the fair value of all investment assets and investment liabilities.

May 2012

Scope clarification

The definition of benefit plan in paragraph 05(g) has been amended to clarify that benefit plans providing benefits to employees during their active service are within the scope of this Section.

July 2012

Disclosure clarification

Paragraph 32(a)(ii) and an Appendix have been added to clarify that the fair value disclosures in paragraphs 27-27B of IFRS 7 Financial Instruments: Disclosures, that were deleted as a consequence of incorporating IFRS 13 Fair Value Measurement, into Part I of the Handbook will continue to be required for pension plans that have adopted the measurement requirements of IFRS 13.

December 2022

Amendments to Section 4600. See Completed Project.

On December 15, 2022, the AcSB issued these amendments to Section 4600. The amendments are effective for annual financial statements relating to fiscal years beginning on or after January 1, 2024. Earlier application is permitted.