OBJECTIVE:
Participants will be provided with a review of new and revised IFRS between July 2020 and June 2021 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 more in-depth coverage of specific items. Coverage of these topics provides insights into application of the standards, including insights on some judgments. Recent publications by the regulators are referenced so that participants are aware of and consider the implications of regulator communications.

The course updates the participant’s knowledge of changes to IFRS and non-authoritative guidance that has been issued by the IFRS Interpretations Committee and the IFRS Discussion Group during the year.  Minimal changes to IFRS are expected in the current 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. Notices issued by the regulators will be referenced.

WHO WILL BENEFIT:
All professionals who want to be informed of the recent developments in IFRS standards, including practitioners, preparers and readers of financial statements using IFRS. 

LEARNING OUTCOMES:
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, and
• identify publications issued by the regulators during the year 

CONTENT:

•  New and revised standards issued during the year – focus will be on maintenance projects as no significant changes to the standards are anticipated
• Commentary on standards
  
  • IFRS Interpretations Committee Agenda Decisions
  • IFRS Discussion Group notes
  • Regulator communications
  • COVID-19 resources
  • Other relevant publications

• Projects in process

PREREQUISITES:
Understanding of the current standards in the CPA Canada Handbook – Accounting Part I.

COURSE LEADER: KIM VAREY, CPA, CA