AC Insights Summer 2018 - Cdn Edition
The IASB has two major projects in progress. One project is considering how to revise and update the IFRS Practice Statement 1: Management Commentary. IPS 1 is a guideline for preparing management’s discussion and analysis and is not used by public companies in Canada, which are subject to requirements for MD&A under securities regulations. The other project is the development of an accounting model for rate-regulated activities. Finalization for these projects is not expected for a couple of years.