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AcSB Standard-setting Due Process Manual

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Apr 20, 2018

On April 20, 2018, the Accounting Standards Board (AcSB) released a revised due process manual that provides a clear explanation of their IFRS® Standards endorsement and domestic standard-setting activities.

The AcSB Standard-Setting Due Process Manual outlines their rigorous set of procedures to develop and adopt standards.

The due process is based on the following principles:

  • Transparency: conducting their standard-setting process in a transparent manner.
  • Consultation: considering the perspectives of those affected by Canadian financial reporting standards.
  • Accountability: analyzing the potential effects of its proposals on affected parties and explaining the rationale for their decisions when developing or changing a standard in material published with exposure drafts and final standards. They are also directly accountable to the Accounting Standards Oversight Council.

Review the due process manual and due process procedures on the AcSB's website.

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