|
Canada is in the midst of far-reaching changes to financial reporting. This includes the pending
changeover by publicly accountable enterprises in Canada to the standards of the International Accounting
Standards Board, and the determination of appropriate financial reporting standards for private enterprises
and not-for-profit organizations. This is a historically significant time for preparers and users of
financial statements, and for all those involved in the standard-setting process.
The term of office of the present Accounting Standards Board (AcSB) Chair, Paul Cherry, expires on March
31, 2009. Paul, an acknowledged expert in Canadian GAAP and with an extensive knowledge of US GAAP and
International Financial Reporting Standards (IFRSs), has indicated that he is unavailable to extend yet again
his current term as the AcSB Chair. Paul is a proven leader in the standard-setting world and he has been
instrumental in setting Canada on the road to joining most of the world in adopting IFRSs.
AcSOC sees this upcoming changing of the guard as a unique opportunity for a motivated individual with
leadership, interpersonal and financial reporting skills to champion AcSOC’s vision of Canada embracing a
single set of high-quality accounting standards to fruition, and to be a driving force in the
standard-setting world.
AcSOC is an independent body that oversees the setting of accounting standards in Canada. It is also
charged with the responsibility to select and appoint members to the AcSB, including the Chair. AcSOC has
constituted a selection committee, consisting of myself as AcSOC Chair; Denis Desautels, AcSOC Vice-Chair;
and Kevin Nye, Chair of AcSOC’s Nominating Committee.
Interested individuals are urged to respond in confidence to AcSOC’s notice, which can be accessed by
clicking here.
Douglas M. Hyndman
Chair
Accounting Standards Oversight Council
|
