The Accounting Standards Board (AcSB) issues new strategic plan for 2016-2021

Read the AcSB’s new five-year strategic plan for publicly accountable enterprises, private enterprises, pension plans and private sector not-for-profit organizations.

On April 1, the AcSB put in place our 2016-2021 strategic plan. This five-year plan retains the overall strategies already adopted for accounting standards for four categories of reporting entities — publicly accountable enterprises, private enterprises, pension plans and private sector not-for-profit organizations.

We kept these strategies in place because you’ve told us they are meeting your needs. But we think we can do better. This new strategic plan incorporates improvements to the way we implement each strategy, and we will do that by:

  • keeping our ears to the ground to listen to what our stakeholders have to say, as always — critical to the success of the standards we set
  • anticipating changes needed to our strategies resulting from developments in the financial reporting environments of each of our four reporting entity categories

To achieve our strategic plan, we will set annual plans that will contain specific actions for each of the categories of reporting entities. These annual plans will help us monitor our progress over the next five years and fine-tune the steps required to stay consistent with the overall objectives of the strategic plan. The plans will be made public and you’ll be able to assess how we are responding to stakeholders’ needs.

If you have something to tell the AcSB to support our standard-setting activities, please get in touch by emailing us or tweet us @FRASCanada.

About the Author

Linda Mezon, FCPA, FCA, CPA (MI)

Chair, Accounting Standards Board

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