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The AcSB Annual Plan sets out the AcSB’s objectives and planned activities for:

• publicly accountable enterprise,
• private enterprises,
• and not-for-profit organizations
• along with other initiatives to be undertaken in 2015-2016.

The key elements that will be considered in the Annual plan are summarized as follows:

• The maintenance of the separate strategies for “each major category of reporting entity.”
• The AcSB will continue to support the adoption and application in Canada of International Financial Reporting Standards (IFRSs), as issued by the International Accounting Standards Board (IASB) for Publicly accountable enterprises.

Note: “The AcSB remains responsible to review the quality of IFRSs on behalf of its stakeholders even though it has chosen a policy of adopting the standards of the IASB for publicly accountable enterprises (and other entities that choose to adopt those standards), without modification, following completion of the AcSB’s due process. Application of IFRSs, as issued by the IASB, is included in the requirements of capital market and other regulators.”

• The AcSB will continue to maintain and update a separate set of standards for Private enterprises.
• The AcSB will continue to maintain and update a separate set of standards for transactions and circumstances unique to Not-for-profit organizations (NFPOs).

Follow to read the full story.

http://www.frascanada.ca/accounting-standards-board/what-we-do/strategic-plan/item81397.pdf

 

Have all your issues been addressed on the: Summary of 2015-2016 AcSB objectives?

Do you have anything that you or your organization would like to see added to the: Summary of 2015-2016 AcSB objectives?