IAS 12: Income Taxes
Accounting for current and deferred income taxes, including recognition, measurement, and disclosure of deferred tax assets and liabilities.
Why IAS 12 matters
Tax-provision audits are among the slowest workstreams. Deferred tax asset (DTA) recoverability is a recurring estimate-audit (CAS 540) issue.
Framework: International Accounting Standards (IAS)
IAS were issued by the IASC before being superseded by the IASB. Many IAS remain in force and are part of IFRS as adopted in Canada.
Primary source: IFRS Foundation
Frequently asked
What is IAS 12?
Accounting for current and deferred income taxes, including recognition, measurement, and disclosure of deferred tax assets and liabilities.
Why does IAS 12 matter for an audit?
Tax-provision audits are among the slowest workstreams. Deferred tax asset (DTA) recoverability is a recurring estimate-audit (CAS 540) issue.
Which framework does IAS 12 belong to?
IAS 12 falls under International Accounting Standards (IAS). IAS were issued by the IASC before being superseded by the IASB. Many IAS remain in force and are part of IFRS as adopted in Canada.
Related standards — International Accounting Standards (IAS)
See how Auditus checks IAS 12
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