Canada’s AcSB seeks input on proposals for reporting by private companies

Canada’s Accounting Standards Board (AcSB) is asking for feedback on three options that will change financial reporting standards for privately-owned companies. The proposals are contained in an Invitation to Comment and Discussion Paper released by the AcSB. Discussion and feedback received during the comment period will inform the board’s decision which, in turn, will significantly impact the way financial reporting is carried out by private companies in Canada.