Page 8 - Public Sector Accounting Board 2014/15 Annual Report
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6 PSAB Annual Report 2014-2015

The meetings of the Public Sector Accounting Discussion Group are open to the public.

Accountability
PSAB is accountable to AcSOC. AcSOC is responsible for providing input to PSAB’s strategic
and annual plans as well as assessing PSAB’s adherence to due process and annual
performance.

Accounting Standards
Oversight Council
Chair: Kevin Nye

Public Sector Public Sector Accounting
Accounting Board Discussion Group

Chair: Rod Monette Chair: Andrew Newman

Task Forces

AcSOC is an independent, volunteer body established in 2000. It serves the public interest by
overseeing and providing input on the activities of the Accounting Standards Board (AcSB),
which sets financial reporting standards for profit-oriented enterprises, and not-for-profit
organizations in the private sector, and PSAB, which sets financial reporting standards for
governments and their organizations. AcSOC’s responsibilities include appointing AcSOC,
AcSB and PSAB members and reporting to the public on their oversight responsibilities.
AcSOC is made up of representatives that include regulators, investors and other users,
preparers and auditors of financial reports. AcSOC brings a broad perspective to complex
issues facing standard setters in both the private and public sectors.
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