Page 4 - Accounting Standards Board Annual Report For the Year Ended March 31, 2015
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2 AcSB Annual Report 2014-2015

• participating in global standard setting, in part through the International Accounting
Standards Board’s (IASB) Accounting Standards Advisory Forum;

• finalizing several major and annual improvements to standards for private enterprises,
making substantial progress in developing future improvements; and

• analyzing extensive stakeholder input in response to the Statement of Principles on
standards for not-for-profit organizations and developing preliminary plans for next steps.

Global Standards

On the international front, we enjoy a high profile and are recognized for representing Canadian
perspectives. The AcSB continues to participate in and, more importantly, influence the IASB’s
setting of International Financial Reporting Standards (IFRSs).

“Canada is a very important member of the global IFRS
community. Because of a strong Canadian presence, your
thoughts and ideas permeate throughout our Standards.”
Hans Hoogervorst, Chairman, IASB

The AcSB hosted the IFRS Foundation
Trustees’ spring 2015 meeting in Toronto.
During the visit, the AcSB organized a
stakeholder question-and-answer webinar
with the IASB Chairman Hans Hoogervorst
about IFRSs and the role that Canada
plays in influencing the development of
international standards.

Continuing on that theme, an event was

hosted by the Accounting Standards

Oversight Council (AcSOC), the IFRS

Foundation, the AcSB and CPA Canada.

The AcSB invited 160 key stakeholders

from across Canada representing

preparers, auditors, investors, and

Left to Right: Linda Mezon - AcSB Chair, Hans Hoogervorst - regulators, and other accounting
IASB Chairman standard setters, for networking and

a panel discussion presentation. In

particular, the panel members provided their views on working to reduce the differences

between IFRSs and U.S. GAAP.
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