<P> The Accounting Standards Board ( AcSB ) establishes accounting standards for use by private enterprises and private sector not - for - profit organizations . The AcSB contributes to the development of International Financial Reporting Standards ( IFRSs ) by participating in consultations and activities of the International Accounting Standards Board ( IASB ) to ensure Canadian publicly accountable entities ' financial reporting needs are considered . The AcSB develops and participates in the development of high - quality financial reporting standards . </P>
<P> The Accounting Standards Board ( AcSB ) establishes accounting standards for use by private enterprises and private sector not - for - profit organizations . The AcSB contributes to the development of International Financial Reporting Standards ( IFRSs ) by participating in consultations and activities of the International Accounting Standards Board ( IASB ) to ensure Canadian publicly accountable entities ' financial reporting needs are considered . The AcSB develops and participates in the development of high - quality financial reporting standards . </P>
which one is the primary accounting standard-setting body in canada
which one is the primary accounting standard-setting body in canada
The Accounting Standards Board ( AcSB )
The Accounting Standards Board ( AcSB )