About the AcSB Not-for-Profit Advisory Committee
The Accounting Standards Board (AcSB) established the Not-for-Profit Advisory Committee in 2015 to act in an advisory capacity to the AcSB and assist the AcSB in maintaining and improving accounting standards for not-for-profit organizations (NFPOs) in the private sector.
The responsibilities of the Committee, acting in its advisory capacity, are to:
- identify and recommend to the AcSB:
- topics that should be added to accounting standards for NFPOs; and
- existing content of the standards that should be changed or removed, consistent with meeting the needs of NFPOs and the users of their financial statements;
- develop proposed changes to the standards for approval by the AcSB, after the AcSB agrees to add to or change the standards; and
- provide the AcSB with advice on managing accounting standards for NFPOs (for example, research of NFPO issues, the timing of changes to standards and the process of communications with stakeholders).
The Committee consists of:
- a Chair, who is a member of the AcSB; and
- other members with a range of backgrounds and experience, including preparers from public benefit organizations (i.e. charities) and member benefit organizations, users that provide resources to NFPOs, and accounting practitioners involved with not-for-profit organization financial statements.
Members are generally appointed for a three-year term and are eligible for reappointment. Members are expected to have an in-depth knowledge of accounting standards for NFPOs and of their application in practice. View current AcSB Not-for-Profit Advisory Committee members.
The Committee normally meets three to four times a year. A summary of discussions of each Committee meeting will be made available shortly after each meeting.
For upcoming meetings, visit the AcSB calendar.
To obtain more information about the AcSB Not-for-Profit Advisory Committee, or communicate issues, contact:
Grace Lang, CPA, CA
Principal, Accounting Standards Board
Phone: +1 (416) 204-3478