Accounting and Auditing Standards Oversight Councils Initiate Review of Standard Setting in Canada

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May 13, 2021

On May 13, 2021, the Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) announced that they have initiated a review of Canadian standard setting. The Independent Review Committee on Standard Setting in Canada was formed to review of the governance and structure for establishing accounting, auditing, and assurance standards, as well what might be needed for the future – including sustainability standards.

The Committee will make recommendations to ensure Canadian standard setting will continue to be independent and internationally recognized.

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