Page 9 - Accounting Standards Board Annual Report For the Year Ended March 31, 2015
P. 9
AcSB Scorecard 7

AcSB Scorecard

The AcSB achieved the key objectives in its 2014-2015 Annual Plan and made substantial
progress to completing the objectives in its 2011-2016 Strategic Plan. The AcSB’s major
accomplishments during the year were that it:
• increased accessibility of the AcSB to stakeholders significantly and demonstrated higher

AcSB member engagement through broad communication and outreach, particularly by
the AcSB Chair through two cross-country consultations;
• participated in global standard setting at the International Accounting Standards Board’s
(IASB) Accounting Standards Advisory Forum, including presentations on the dynamic
risk management and business combinations under common control;
• conducted extensive outreach and high stakeholder participation in the consultation
on its next strategic plan;
• achieved a high level of activity and facilitated input from concerned stakeholders
on the IASB’s insurance project;
• reinvigorated the strategic relationship with the U.S. Financial Accounting Standards
Board (FASB), including performing research to understand the number and significance
to the Canadian capital market of foreign private issuers listed with the U.S. Securities
and Exchange Commission and domiciled in Canada;
• developed comment letters on the IASB’s discussion papers for rate regulation and
dynamic risk management;
• finalized several major and annual improvements to standards for private enterprises,
and made substantial progress in developing future improvements, including obtaining
considerable input received on an Exposure Draft on redeemable preferred shares; and
• analyzed extensive stakeholder input in response to the Statement of Principles on
standards for not-for-profit organizations and developed plans for next steps.

The AcSB also:
• contributed to the improvement of IFRSs, at the standards and implementation guidance

levels, through the following actions:
–– supported, and participated in, the International Forum of Accounting Standard Setters;
–– supported a Canadian member of the IFRS Interpretations Committee;
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