Accounting standards for private enterprises in Canada finalized
Tricia O’Malley has been appointed as chair of the Accounting Standards Board (AcSB), succeeding Paul Cherry, the Accounting Standards Oversight Council (AcSOC) said Wednesday.The AcSB establishes financial reporting standards that contribute to enhanced decision making by improving the quality of financial information about organizational performance reported by Canadian entities.O’Malley previously served as the first full-time […]
Proposed changes respond to concerns that Canadian banks should not be disadvantaged
Board consulting with U.S. and international bodies before making its choice
Paul Cherry, Accounting Standards Board (AcSB) chairman, has been appointed chairman of the International Accounting Standards Board’s Standards Advisory Council (SAC), effective Jan. 1, 2009, for a three-year term.“Paul’s appointment recognizes his exceptional talents and contributions to international accounting standards over many years,” said Doug Hyndman, chairman of Canada’s Accounting Standards Oversight Council, in a […]
Temporary change will ease valuations for assets in markets with little liquidity
Changes will allow companies to reclassify some financial instruments to allow them to avoid fair-value accounting treatment
Some say suspension of the accounting rule tying value to current markets is crucial
Official changeover date is Jan. 1, 2011
Canadian premiere of BIO VentureForum East