News Listings

The Accounting Standards Oversight Council (AcSOC) and Auditing and Assurance Standards Oversight Council (AASOC) 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. 

We are pleased to announce new members and re-appointed members, and thank those retiring, to the Council and the AASB. See the appointments page for full details.

AASOC is pleased to announce it has approved the appointment of Bob Bosshard, CPA, CA, ICD.D, as the new chair of the AASB. Bob will begin his three-year term as the AASB chair on July 1, 2021. Read more about his background and how it will serve the AASB as it navigates through this pivotal time.

This article provides highlights from comment letters written by Boards and Councils responding to the IFRS Foundation Trustees Consultation Paper on Sustainability Reporting.

The Council met on September 30, 2020 to receive an update on the Board’s activities. Read the full report for more information.

The Council met on June 22-23, 2020 to receive an update on the Board’s draft Strategic Plan as well as the Board’s 2019-2020 Performance Report. Read the full report for more information.

The expectation gap between the public’s perception of the role of the auditor, the auditor’s current responsibilities, and how they may evolve are receiving heightened attention. Register for our new online community platform, Connect.FRASCanada.ca, to quickly and easily provide your input on this growing issue – as well as hear from others on these important topics.

The Council met to receive an update on the impact of COVID-19 on the Board’s activities. The Council also discussed and concluded that the Board followed due process with proper regard for the public interest in developing and approving AuG-50.  Read the full report for more information.

During a virtual meeting, the Council discussed the activities of the AASB and other related matters. The Council also received an update on the activities of its Performance Review Committee. Read the full report for more information.

This year, our focus was on evolving the role of the Council to become more strategic, improving our nominations and governance procedures and enhancing our performance review process. Read about the work we did over the past year and our oversight of the Auditing and Assurance Standards Board.