October 13, 2022: The Accounting Standards Oversight Council (AcSOC) is pleased to announce that Armand Capisciolto, FCPA, FCA, current interim Accounting Standards Board (AcSB) Chair, will be appointed as permanent Chair effective May 1, 2023.
Armand has held the role of interim AcSB Chair since September 2022 balancing AcSB duties with his role as National Accounting Standards Partner with BDO Canada LLP. He will continue with BDO and the AcSB in an interim capacity until the effective date.
Says AcSOC Chair, Lorraine Moore, “We are delighted that Armand will expand his contribution to the AcSB’s work as Chair. Armand brings a wealth of strategic leadership and expertise on accounting standards and financial reporting technical matters. As a longstanding AcSB member focused on ensuring standards serve the public interest, we are confident in Armand’s ability to steer the Board toward the delivery of its 2022-2027 Strategic Plan.”
Armand has extensive knowledge and experience with Canada’s financial reporting frameworks, servicing private and public companies, not-for-profit organizations, pension plans, and public sector entities. Armand has been with the AcSB since November 2009 and was appointed Vice Chair in April 2019. He is a past Chair of the AcSB’s Private Enterprise Advisory Committee, and a past member of the AcSB’s IFRS® Discussion Group and PSAB’s Public Sector Accounting Discussion Group.
“It is an honour to have been selected as Chair,” says Capisciolto of his new role. “The Board is committed to and invested in identifying how best to support our stakeholders’ needs inside and outside of traditional financial statements. I look forward to continuing this work and collaborating with the other Canadian standard-setting boards, including the new Canadian Sustainability Standards Board, our stakeholders, and staff to deliver high-quality and relevant accounting standards that serve the public interest.”
The Accounting Standards Oversight Council (AcSOC) is an independent, volunteer body established in 2000 to serve the public interest by overseeing and providing input into the activities of the Accounting Standards Board (AcSB). In 2003, AcSOC started overseeing and providing input into the activities of the Public Sector Accounting Board (PSAB).