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).
We serve the public interest by playing a key role in Canadian financial reporting by:
We, among other things, are responsible for monitoring and evaluating the performance of both Boards, and appointing members to AcSOC, the AcSB and PSAB, including Chairs and Vice-Chairs. See our Terms of Reference.
We are comprised of between 20 and 25 voting members, including five non-voting members. View current AcSOC members.
Membership consists of senior members from:
Our members have a broad perspective of the complex issues facing standard setters.
We normally meet three times a year. Additional meetings and conference calls may take place.
With the exception of administrative matters, meetings are generally open to public observation.
Chartered Professional Accountants of Canada (CPA Canada) provides funding, staff and other resources to support Canada’s standard-setting process.
CPA Canada and AcSOC function at arm’s length from one another. As a result, we carry out our operations in an independent manner.