TORONTO, ON November 6, 2020 – Clyde MacLellan FCPA, FCA, is the new chair of the Public Sector Accounting Board (PSAB).
The Accounting Standards Oversight Council (AcSOC) unanimously approved his appointment at its October 2020 meeting, concluding an ongoing search that commenced this past summer.
MacLellan was serving as interim chair since July and assumed the role permanently as of November 1, 2020. He replaces former chair Charles-Antoine St-Jean, FCPA, FCA, who was appointed President and CEO of CPA Canada.
“Clyde’s wealth of public sector experience is a huge asset to PSAB,” says Miville Tremblay, AcSOC Chair. “The Board is preparing for some critical changes, which require strong leadership and vision. We know Clyde will lead PSAB well through this time of change.”
Appointed as a PSAB member in 2017 after serving as Chair of the Conceptual Framework Task Force, MacLellan is also recently retired as an Assistant Auditor General of Canada. This background will assist him in leading PSAB as it navigates implementing its key projects and strategies over MacLellan’s term.
“As PSAB works towards initiatives such as adapting International Public Sector Accounting Standards when developing future standards and finalizing its conceptual framework and reporting model, Clyde’s background with the Board and understanding of these projects’ histories will help support their implementation,” Tremblay adds.
In addition, one of MacLellan’s first priorities will include finishing out its current Strategic Plan and developing the next one.
Over 29 years at the Office of the Auditor General of Canada, MacLellan gained experience in financial and performance auditing of Canadian public sector organizations, as well as working on similar issues internationally. This included working on international audits of the International Criminal Police Organization (INTERPOL), the United Nations Educational, Scientific AND Cultural Organization (UNESCO) and representing the Auditor General’s Office at the United Nations Panel of External Auditors and its technical working group.
“I am excited to continue working to serve the public interest in my new role as PSAB chair,” MacLellan says.
“The Board plays a vital role in the public’s understanding of financial condition and performance of governments and other public sector entities. I look forward to working with our stakeholders, Board members and staff in ensuring PSAB continues to have a high-quality and comprehensive set of accounting standards for the public sector.”
Before joining the Auditor General’s office in 1991, MacLellan was a lecturer of accounting and auditing at Saint Mary’s University in Halifax, Nova Scotia and spent seven years working at the Halifax office of an international accounting firm. MacLellan has a Bachelor of Business Administration degree from Acadia University in Wolfville, Nova Scotia.
His initial term will be five years and five months ending March 31, 2026, with an option to renew at both parties’ discretion for three years.
About PSAB
The Public Sector Accounting Board (PSAB) was created to serve the public interest by establishing accounting standards for the public sector. It also provides guidance for financial and other performance information reported by the public sector.
About AcSOC
The Accounting Standards Oversight Council (AcSOC) is an independent, volunteer body that serves the public interest by overseeing and providing input into the activities of the Accounting Standards Board (AcSB) and the Public Sector Accounting Board (PSAB).