Would you like to help improve financial reporting for private enterprises? Do you regularly review or use private enterprise financial statements to make decisions?
If so, the Accounting Standards Board (AcSB) needs you on its new Canadian Private Enterprise User Advisory Committee!
About the Committee
The Accounting Standards Board recently approved the formation of a new advisory committee, the Canadian Private Enterprise User Advisory Committee.
The Committee will assist the AcSB in understanding how users in the private enterprise space use financial information. It will advise the Board on standard-setting priorities and on specific agenda projects based on what users’ information gaps might be. Feedback from the user community will help the Board develop high-quality accounting standards that provide useful and reliable information at a reasonable cost to preparers.
Committee members come from various organizations across the country, each bringing unique perspectives on their use of financial reporting in the private sector.
The Committee aims to reflect the broad diversity of private enterprise financial statement users in Canada. Committee members are expected to regularly review and use private enterprise financial statements to make decisions. This may include lenders, private equity investors, and other professionals from a variety of investment and analytical backgrounds with experience reviewing private enterprise financial statements.
What’s in it for you
- Shape private enterprise financial reporting – bring your own perspectives and contribute to the improvement of financial reporting for private enterprises in Canada.
- Be in the know – learn about impending changes or emerging issues in private enterprise financial reporting.
- Gain new perspectives – learn from other experts and broaden your understanding of private enterprise financial reporting.
- Be part of a network – form connections with Committee members representing a range of experiences and locations across the country.
Committee members are not expected to be Chartered Professional Accountants (CPAs). For those who are CPAs, the time spent preparing for and attending Committee meetings would qualify as Continuing Professional Development (CPD). Contact your provincial CPA body for any questions about CPD hours.
About the role
- The Canadian Private Enterprise User Advisory Committee is expected to convene starting April 1, 2025. The AcSB is recruiting members for a three-year term.
- There will be approximately three to four video conference meetings per year, each with a maximum meeting time of two hours. Committee members are expected to participate in all meetings.
- The preparation time for each meeting is expected to range from one to two hours. Meeting materials will be produced with financial statement users in mind, meaning that they will be plain language, non-technical accounting speak. Materials will typically highlight the impact—or proposed impact—of a standard on the financial statements and notes of a private company to help users analyze and provide feedback on potential changes.
- The working language of the Committee is English.
We value diversity and are committed to cultivating an inclusive, accessible environment where our volunteer base feels respected, valued, and supported, and is reflective of the Canadians we serve.
The AcSB encourages all qualified candidates to apply online. If you require a disability-related accommodation to participate in our volunteer recruitment process, please email us at [email protected] and we’ll be happy to work with you to meet your needs as they relate to interviewing for these volunteer positions.