Independent review concludes, setting the stage for the future of Canadian accounting, auditing, and sustainability standard setting

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Mar 01, 2023

On March 1, 2023, 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.

An early recommendation that was already issued by the committee and approved by the oversight councils was the establishment of the Canadian Sustainability Standards Board (CSSB), which will soon be operational.

In addition to the establishment of the CSSB, implementing recommendations regarding effective oversight of standard setting is now underway – beginning with a joint effectiveness review of the current oversight councils that aims to streamline and harmonize current oversight activities and processes.

Review the press release and report on the AcSb's website.

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