News Listings

This past year, AcSOC remained flexible to tackle new challenges in the standard-setting space. Together with our partners, we are looking forward to building a sustainable future. Read our Annual Report 2022-2023 to learn more about the work we did, including our oversight of the AcSB and PSAB. 

AcSOC is pleased to announce new members and re-appointed members to the Council, PSAB, and the AcSB. We also wish to thank those retiring for their dedicated service. Read the appointments page for full details.

The Independent Review Committee on Standard Setting in Canada issued its final recommendations report. The recommendations aim to ensure Canadian accounting and auditing – and now sustainability reporting and assurance – standard setting continues to be independent and internationally recognized. A summary feedback statement will soon be issued, outlining the feedback the committee received during its consultation process.

The Council met on February 17-18, 2022, to discuss the activities of the AcSB, PSAB, and related matters. Read the full report for more information.

The Council met on June 2-3, 2022, to discuss the activities of the AcSB, PSAB, and related matters. Read the full report for more information.

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.

AcSOC and AASOC formulated their response to the ISSB’s “General Sustainability-related Disclosures” Exposure Draft, using feedback gathered from an extensive cross-section of Canadian stakeholders through various forums. Read our comment letter for Canada’s response to the Exposure Draft which includes feedback to issues such as: the overall approach to sustainability-related risks and opportunities disclosure, objectives and definition of sustainability-related financial information, materiality, global baseline, frequency of reporting, and more.

AcSOC and AASOC formulated their response to the ISSB’s “Climate-related Disclosures” Exposure Draft, using feedback gathered from an extensive cross-section of Canadian stakeholders through various forums. Read our comment letter for Canada’s response to the proposed objective of the Exposure Draft, requirements for identifying climate-related risks and opportunities, scenario analysis, transition plans and carbon offsets and more.

The Council is pleased to announce that current Vice-Chair, Armand Capisciolto, FCPA, FCA, will serve as AcSB’s interim Chair from September 1, 2022 to December 31, 2022. Armand will continue in his role with BDO Canada, LLP, while he serves his interim tenure. The permanent AcSB Chair is expected to be announced by the fall.

As the pace of progress in sustainability disclosures continues to accelerate, the Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) mutually approved the formation of the Canadian Sustainability Standards Board (CSSB). Read the media release to learn more about what this means for Canada.