Stay informed of changes to financial reporting and accounting standards for IFRS, ASPE, ASNPO, PSAS and Pension Plans. These pages include relevant webinars, training courses and guidance and resources from standard-setting boards.
Accounting Standards for Pension Plans
Stay informed of new standards and recent changes to Accounting Standards for Pension Plans together with exposure drafts. Please also see the webinars, training courses and resources from the relevant standard-setting boards under the Resources tab for each item.
Revised Standard – Pension Plans
The AcSB Section 4600 to address the following:
- clarify that a statement of changes in pension obligations for defined contribution pension plans is not required
- provide guidance on determining the split or amalgamation for pension plans
- include guidance on the accounting for guaranteed annuity contracts (commonly known as “buy-ins” and “buy-out” annuity contracts
- clarify the presentation requirements for combination plans
- require additional risk disclosures for investments in master trusts
The amendments clarify areas of ambiguity in the standard and introduce new guidance in areas where no guidance currently exists.
Effective for annual reporting periods beginning or after January 1, 2024, with early application permitted.
The COVID-19 pandemic continues to significantly impact Canadian organizations. Find relevant information on financial reporting that accounts for the global pandemic and its impact on the profession.
- AcSB COVID-19 resources: IFRS, ASPE and NFPOs (AcSB, 2021)
- PSAB COVID-19 resources (PSAB, 2021)
- COVID-19: Financial reporting implications and resources (CPA Canada, 2021)
- COVID-19 resources for not-for-profits (CPA Canada, 2021)
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