The Accounting Standards Board (AcSB) recently released a number of updates, including new Exposure Drafts, reports, and decisions that may be of interest to Alberta CPAs:
IFRS Discussion Group Meeting Report – September 25, 2019
The Group discussed topics such as accounting for sale-lease back transactions with variable payments, and application issues from an asset acquisition. Read about the views expressed by Group members for helpful tips on these and other topics.
IFRS Discussion Group Meeting Agenda – December 12, 2019
The Group’s agenda will cover a range of topics, including leases, employee benefits, impairment of assets, deferred tax on goodwill, and more.
Exposure Draft, Public Private Partnerships
In this Exposure Draft, PSAB proposes specific scope, recognition, measurement, presentation, and disclosure requirements for public private partnerships. This proposed guidance will have a significant impact in the public sector. Read and respond to the exposure draft before February 29, 2020.
Update – AASB Expands Key Audit Matter Reporting
The AASB received valuable feedback on its Exposure Draft, Communication of Key Audit Matters in the Auditor’s Report. After reviewing the feedback received, the AASB agreed to require key audit matter reporting for other listed entities, excluding listed entities required to comply with National Instrument 81-106. Read the article for full details.