Financial Reporting

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.

Exposure draft – pension plans

The AcSB issued an exposure draft proposing to amend 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; and
  • require additional risk disclosures for investments in master trusts

The intent of the proposals is to clarify areas of ambiguity in the standard and introduce new guidance in areas where no guidance currently exists. The proposals would be effective for annual periods beginning or after January 1, 2023, with early application permitted.

Comments are requested by June 15, 2022.

COVID-19 resources

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.

Contact us

Have a question? Our professional advisory services team are here to help. Advisors attempt to make first point of contact within 24 hours of receiving an inquiry.

Call: 416 204.3106 or 1 800 387.0735 x4456

Email us

Disclaimer

Certain links on this site take you to other websites, resources or tools maintained by third parties over whom CPA Ontario has no control. CPA Ontario provides these links only as a convenience and is not responsible for the contents of any linked website. CPA Ontario makes no representations or warranties regarding, and does not endorse, any linked website, the contents thereof, the information appearing thereon or any of the products or services described thereon. Links do not imply that CPA Ontario sponsors, endorses or is affiliated or associated with the entity that owns or is responsible for any linked website. If you decide to visit any linked websites, you will do so at your own risk. CPA Ontario bears no responsibility whatsoever for the content, accuracy or security of any websites that are linked (by way of hyperlink or otherwise).

..