Page 8 - Accounting Standards Oversight Council Annual Report 2014-2015
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6 AcSOC Annual Report 2014-2015

The Council supports the AcSB in its endeavours to ensure Canadian viewpoints are considered
at the international level in the development of standards for publicly accountable enterprises. In
addition to maintaining high-quality standards, part of the Board’s accountability to stakeholders
is contributing to global best practices in the development of quality standards.

As well, the Council supports the AcSB and PSAB as they continue their important standard-
setting activities for:
• private enterprises;
• not-for-profit organizations; and
• public sector entities.

AcSOC has a responsibility to ensure the standard-setting activity is not politicized and remains
free from undue influence by any stakeholder group.

AcSOC appreciates the level of support provided by CPA Canada to fulfil the AcSB’s and
PSAB’s missions. Given continuing needs and increasing demands, the Boards are reviewing
resourcing levels and future requirements.

Appoint New Members

The vital responsibility of appointing new members ensures that AcSOC and the Boards it
oversees remain fully populated with knowledgeable, experienced volunteers from diverse
backgrounds. AcSOC appoints members following recommendations from its Nominating
Committee, whose members
work to establish appropriate and
balanced representation on the
Council and Boards.

Effective April 1, 2015, AcSOC Left to Right: AcSOC Vice-Chair Peter Jewett, Chair Kevin Nye and Council
appointed new members and Secretary Harry Klompas
reappointed current members to
the Council, the AcSB and PSAB
as follows:

AcSOC
Terms, as Chair and Vice-Chair, respectively, extended for one year ending on March 31, 2016:
• Kevin Nye, Royal Bank of Canada
• Peter Jewett, LLB, Torys LLP
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