Page 8 - Accounting Standards Board Annual Report For the Year Ended March 31, 2015
P. 8
6 AcSB Annual Report 2014-2015

Overview

This report summarizes the activities of the AcSB for its operating year ending March 31, 2015,
including performance relative to its 2014-2015 Annual Plan and its 2011-2016 Strategic Plan
and challenges.
The AcSB’s Annual Plan called for it to allow the strategic directions it adopted in the 2006-
2011 Strategic Plan to settle in practice. The AcSB and its stakeholders needed to work with
the existing adopted sets of accounting standards in Parts I-IV of the CPA Canada Handbook –
Accounting. The AcSB needed to ensure that the processes for updating each set of standards
continued appropriately. Accordingly, this year’s annual operating plan called for the AcSB to
continue its focus on more traditional standard-setting activities.
The AcSB had a successful year in 2014-2015. It achieved the key objectives in its Annual
Plan and its long-term outcomes in its 2011-2016 results chain that financial statements
satisfy the financial reporting needs of stakeholders, despite some significant challenges.
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