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Recording of the fireside chat featuring the IASB Chair and the FASB Chair
Feb 08, 2023
In November 2022, the IASB, FASB and "The Accounting Review" hosted an academic conference "Accounting for an ever-changing world". As part of the conference, Mary Barth, Vice-Chair of the US Financial Accounting Foundation, hosted a fireside chat with IASB Chair Andreas Barckow and FASB Chair Rich Jones.
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ISSB webinar series — recordings available
Feb 08, 2023
In January and February 2023, the International Sustainability Standards Board (ISSB) offered a series of three webinars that showed how companies can start the ground work, data gathering and processes for ISSB reporting by using tools already widely available for businesses and investors.
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IAASB New Technology-Focused FAQ
Feb 08, 2023
On February 8, 2023, the Technology Consultation Group of the International Auditing and Assurance Standards Board (IAASB) released non-authoritative support material to help address certain frequently asked questions about investigating exceptions and the concept of performance materiality when performing audit procedures using automated tools & techniques (ATT).
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IPSASB issues Exposure Draft 84 Concessionary Leases and Right-of-Use Assets In-kind
Feb 06, 2023
On February 6, 2023, the Public Sector Accounting Board (PSAB) encouraged stakeholders to respond to the International Public Sector Accounting Standards Board’s (IPSASB) recently released Exposure Draft 84, Concessionary Leases and Right-of-Use Assets In-kind.
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AASB: Revised JPS concerning communications between Auditors and Actuaries approved
Feb 01, 2023
On February 1, 2023, the Auditing and Assurance Standards Board (AASB) announced that the revised Joint Policy Statement (JPS), effective for communications between the auditor and the actuary involved in the preparation of financial statements that are initiated on or after March 31, 2023, has been approved by both the Canadian Actuarial Standards Board and by the AASB. Early application is permitted.
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IASB issues “In Brief” which discusses merger and acquisition disclosures and goodwill accounting
Jan 31, 2023
On January 31, 2023, the IASB has issued an article ‘In Brief’ which discusses two decisions related to the Business Combinations — Disclosures, Goodwill and Impairment project.
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Updated IASB and ISSB work plan — Analysis (January 2023)
Jan 30, 2023
Following the IASB's and ISSB's January 2023 meetings, we have analyzed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in December 2022.
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IAASB Opens Consultation on Less Complex Group Audits
Jan 24, 2023
On January 24, 2023, the International Auditing and Assurance Standards Board (IAASB) opened the public consultation for a group audit-specific section of the proposed auditing standard for less complex entities (LCEs). The proposed section, Part 10, Audits of Group Financial Statements, is intended to form part of the proposed International Standard on Auditing for Audits of Financial Statements of Less Complex Entities (ISA for LCE) when finalized. The Exposure Draft is open for public comment until May 2, 2023.
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AASB Guide regarding the impact of recent amendments to IAS 1
Jan 24, 2023
On January 24, 2023, the Auditing and Assurance Standards Board (AASB) issued a guide to address how the International Accounting Standards Board’s (IASB) narrow-scope amendments to International Accounting Standard (IAS) 1, Presentation of Financial Statements affect the Canadian Auditing Standards (CASs) and Canadian Standard on Review Engagements (CSRE) 2400, Engagements to Review Historical Financial Statements.
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AcSB Exposure Draft: International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12)
Jan 24, 2023
On January 24, 2023, the Accounting Standards Board (AcSB) has issued an Exposure Draft, entitled “International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12)”. Comments are requested by March 10, 2023.
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2022/2023 Audit Quality Report: Focused on Great
published Jan 25, 2023
Our 2022/2023 report highlights that when we focus on being great in all that we do, exceptional audit quality is a natural output. Quality goes well beyond compliance with technical accounting and auditing standards. At Deloitte, we view audit quality to encompass the quality of the audit experience, the insights we provide to our clients, the proprietary processes and controls we develop and employ and a world-class talent experience for our people.
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Economic outlook 2023: What’s on the horizon?
published Jan 20, 2023
Participants will gain insights on key economic trends that can help them design and implement thoughtful business strategies for the year ahead.
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Make remote … work
published Jan 20, 2023
Participants will gain key insights on how to operationalize the intersection of their remote work and business travel programs and “make remote … work.”
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ASPE Accounting Insights - Accounting Guideline 20 (AcG-20)
published Jan 18, 2023
With the continuous evolution of technology, the number of organizations transitioning from on-premise technology to cloud computing arrangements has increased rapidly. Cloud computing has many benefits, including increased scalability, higher system availability, disaster recovery optionality, and much more.
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How CFOs can learn the ins and outs of the hybrid work model
published Jan 18, 2023
The Covid-19 pandemic turned bustling offices into ghost towns practically overnight. As employees proved they could work productively from their homes, some finance leaders couldn’t help but wonder: Why are we spending so much money on office space, and could that money be better used elsewhere? And even as social distancing became less imperative, some employees still found no compelling reason to return to their offices.
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On the Audit Committee’s Agenda — 2023: The year of the risk-centric agenda
published Jan 16, 2023
Risk oversight is among the most important of the audit committee’s responsibilities. This edition of On the audit committee’s agenda discusses some areas that are most likely to be the subjects of audit committee risk oversight in 2023 including: financial reporting and disclosure; enterprise risk management; cybersecurity; and environmental and climate change.
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The 2023 board agenda
published Jan 11, 2023
In this edition, we discuss some of the critical topics like board composition, technology, workplace, climate, organizational strategy and risks, and finally the board itself, that have remained relatively constant in the past five years, as well as new and emerging topics that will likely be on the board’s agenda in 2023.
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Interest rate increases bite, leading to deeper recession
published Jan 11, 2023
With interest rates increasing, inflation slowing and the Canadian economy entering a recession in addition to the US and Europe, this quarters outlook looks at the factors supporting the negative turn in sentiment. The economic outlook remains clouded in uncertainty. The biggest risk to the outlook is that past interest rate increases may be more impactful than anticipated, leading to a deeper and more protracted global downturn. Scenario analysis that accounts for upside and downside risk to the economic outlook allows companies to assess how revenues and profits could change under different circumstances.
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Global Risks Report 2023
published Jan 10, 2023
The world faces a set of risks that feel both wholly new and eerily familiar. The Global Risks Report 2023 explores some of the most severe risks we may face over the next decade. As we stand on the edge of a low-growth and low-cooperation era, tougher trade-offs risk eroding climate action, human development and future resilience.
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iGAAP in Focus — Financial Reporting: IASB proposes amendments to IAS 12 to introduce a temporary exception from accounting for deferred taxes arising from OECD Pillar Two model rules
published Jan 10, 2023
This iGAAP in Focus outlines the proposed amendments to IAS 12 Income Taxes set out in Exposure Draft (ED) IASB/ED/2023/1 International Tax Reform — Pillar Two Model Rules, published by the International Accounting Standards Board (IASB) in January 2023.