News Listings

Canada’s reporting and assurance oversight councils are pleased to announce the establishment of the Reporting & Assurance Standards Oversight Council (the Oversight Council), an important step towards enhancing standard-setting efficiency and connectivity in Canada.   

AcSOC is pleased to announce the appointments and reappointments for the AcSB and PSAB. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.

Next steps are approved, and implementation plans are underway on the recommendations made by the Independent Review Committee on Standard Setting in Canada (IRCSS) in March 2023. Key approvals include setting up an independent legal entity to house standard-setting activities, putting a new funding model in place, and establishing a single oversight council.

Read these top 5 frequently asked questions as both a reminder and update in advance of coming decisions related to the IRCSS’ Final Report – decisions that will pave the way forward for standard setting in Canada for years to come.

Ensuring that standard setting in Canada is adequately resourced and the activities of the AcSB, the AASB, PSAB and the CSSB continue without disruption is of utmost importance, write the Chairs of AASOC and AcSOC, Kevin Nye and Lorraine Moore.

This past year, AcSOC remained flexible to tackle new challenges in the standard-setting space. Together with our partners, we are looking forward to building a sustainable future. Read our Annual Report 2022-2023 to learn more about the work we did, including our oversight of the AcSB and PSAB. 

The Council met on June 1-2, 2023, to discuss the activities of the AcSB, PSAB, and related matters. Read the full report for more information.

The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.

The Council met on February 23, 2023, to discuss the activities of the AcSB, PSAB, and related matters. Read the full report for more information.

The Council met on February 17-18, 2022, to discuss the activities of the AcSB, PSAB, and related matters. Read the full report for more information.