Submission of Issues for Consideration by IFRS Discussion Group

Members of the public are invited to submit issues for possible consideration by the Accounting Standards Board’s (AcSB) IFRS Discussion Group (IDG). For an issue to be considered for a meeting it must be submitted four weeks prior to a scheduled meeting date to allow AcSB staff time to prepare and distribute an appropriate analysis of the issue(s) to IDG members. If the submission is received with less than four weeks prior to a scheduled meeting it will probably be considered for discussion at the next meeting.

To submit an issue the AcSB requests that the submission include the following:

Identification of the issue – a description of the issue.
Current practice – a description of current Canadian accounting practice, identifying any influences on the practice that might be unique to Canada, including regulatory or legislative requirements.
Reasons for IDG to discuss the issue with consideration of the following:
- Is the problem widespread in Canada?
- Is there divergent practice, or the potential for divergent practice, within Canada?
- Would financial reporting be improved through the elimination of the diversity?
- Is the issue specific to a particular industry?
- Could the problem be global?
- Why should the issue be considered by the IASB or IFRIC?
- Is there a current IASB project that could address the issue or does the issue require consideration on a more expedient basis?

AcSB staff will contact you no later than two weeks before the meeting to advise you whether your issue has been selected for discussion at the IDG meeting. The individual submitting the issues will have the right to participate, or appoint a representative to participate, in the discussion of that issue at the IDG meeting. If specifically requested, the submitter may remain anonymous. To submit an issue email to florita.dinglasan@cica.ca or mail to:

Accounting Standards Board
IFRS Discussion Group
277 Wellington Street West
Toronto, Ontario
Canada
M5V 3H2