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AcSB Annual Plan – 2015-2016

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Apr 29, 2015

On April 29, 2015, the Accounting Standards Board released its Annual Plan where it sets out its 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 considered for the 2015-2016 Annual Plan are summarized as follows:

  1. Maintenance of separate strategies for each major category of reporting entity.
  2. Maintenance of a Canadian standard-setting capability, based on the roles, structures, processes and resources that were developed to match the strategies, with such further evolution as is necessary.
  3. Commitment to continuing to develop communications so that stakeholders are well informed about standard-setting activities and have ample opportunities to provide input to the AcSB.
  4. Commitment to monitoring the practical limitations on the ability of the Canadian financial reporting system to cope with change and participate in standard-setting activities (“standards fatigue” issue1). Networking and liaison with other organizations in Canada and internationally that play a role in maintaining and improving the quality of financial information.

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