This course provides participants with a review of new and revised IFRS between July 2023 and June 2024 and an up-to-date snapshot of other projects being considered by the IASB. Topics addressed by the IFRS Discussion Group and the IFRS Interpretations Committee during the year will be identified with in-depth coverage of specific items. Coverage of these topics provides insight into application of the standards, including insights on some judgments. Recent publications by the regulators are referenced as well as the current status of Sustainability Reporting to provide participants with an awareness of developments in these areas.

This course updates the participants knowledge of changes to IFRS and non-authoritative guidance during the year. It also provides updates of decisions issued by the IFRS Interpretations Committee and discussions held by the IFRS Discussion Group during the year. Awareness of these changes and knowledge of topics discussed with respect to the application of IFRS are essential to those applying IFRS. Examples, as included in the discussions, will be used to demonstrate the topics. Developments in Sustainability Reporting will be summarized. Notices issued by the regulators will be referenced.

Topics Include:

• New and revised standards issued during the year including
  • The new standard on Primary Financial Statements
  • Revisions resulting from various maintenance projects
  • Review of projects in process
• Commentary on standards
  • IFRS Interpretations Committee Agenda Decisions
  • IFRS Discussion Group notes
  • Regulator communications
  • Other relevant publications
• Sustainability Reporting – Recent developments

NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.

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By the end of this course, participants will be able to:

• Explain changes to IFRS during year and consider the impact on their organization.
• Identify projects in process at the IASB.
• Identify topics discussed by the IFRS Interpretations Committee and the IFRS Discussion Group with explanations of selected topics and consider impact on their organization.
• Identify publications issued by the regulators during the year.
• Identify recent developments in Sustainability Reporting.