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:
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.
At its recent meeting, the Committee discussed accounting for contributions and combinations, as well as research on the NFP sector, amendments to other frameworks, and the Public Sector Accounting Board’s (PSAB’s) Government NFP Strategy Consultation paper.
Not-for-Profit Organizations, NFPOs, Advisory Committee, Notes, April 8, 2019
At its recent meeting the Committee discussed the accounting for Combinations.
The Committee consists of:
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.