Page 11 - Accounting Standards Oversight Council Annual Report 2014-2015
P. 11
AcSOC’s Responsibilities 9

AcSOC is satisfied that due process was followed in planning and executing the AcSB’s
initiatives during 2014-2015.

PSAB

PSAB had a successful year, particularly as it has been a challenging and transformative
year for the Board.

The Council provided input to PSAB to ensure that the public interest was considered on
such key matters as:
• financial instruments and foreign currency translation;
• government transfers;
• the discussions of the PSA Discussion Group; and
• PSAB’s resource capacity and Board membership representation.

AcSOC is satisfied that due process was followed in planning and executing PSAB’s initiatives
during 2014-2015.

Hear Directly from Stakeholders

As part of AcSOC’s responsibility to serve the public interest, AcSOC meetings provide a venue
in which, by prior arrangement, interested parties may make a presentation on current financial
reporting issues. Such presentations, and ensuing discussion amongst presenters and AcSOC
members, can provide valuable input to the AcSB and/or PSAB’s decision-making and AcSOC’s
oversight role.

The following individuals made presentations during the 2014-2015 operating year:

June 2014
• Ron Salole, Deputy Chair, International Public Sector Accounting Standards Board

(IPSASB)
• Tim Wiles, former Deputy Minister of Finance and Enterprise, and former Controller for

the province of Alberta
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