Date: June 25, 2013
Time: 12:30 PM Eastern Time

The Accounting Standards Board (AcSB) and Public Sector Accounting Board (PSAB) jointly issued a Statement of Principles (SOP) that proposes improvements to standards followed by not-for-profit organizations (NFPOs) in both the private and public sectors.

The proposed improvements would change how NFPOs account for and report, amongst other items, their:

The proposals are directed at enhancing the comparability and understandability of the financial statements prepared by NFPOs.

Participate in the Boards’ joint webinar to:

Now is the time to get involved.

Review the SOP before the webinar.

FOR YOUR INFORMATION:

This webinar is a 60 minute event. Where applicable, you are entitled to a one hour CPD credit (pending successful completion of the Quiz).

The PowerPoint slides will be available in the Resources section 24 hours prior to the webinar date.

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Gord Fowler, Chair, AcSB

Gord Fowler was appointed Chair of the Accounting Standards Board (AcSB) in November 2010 for a term ending June 30, 2013. He was first appointed a member of the AcSB in 2005 and previously served as the Vice Chair.

Gord retired from KPMG LLP in 2010 as the National Partner-in-Charge for Accounting Standards. In this role, he focused on significant accounting and securities practice issues facing the firm's clients, including major public company clients.

Gord has extensive experience in the areas of International Financial Reporting (IFRSs) and was a member of the KPMG International IFRS Panel. He was also Co-Chair of the Securities Regulations Advisory Group and Chair of the AcSB’s Foreign Currency Translation Task Force. Gord qualified as a Chartered Accountant in Alberta in 1973.

He started his accounting career with KPMG in 1971 in Calgary, and has been in the Toronto, New York and National Offices of KPMG. In 2000, Gord was elected a Fellow of the Institute of Chartered Accountants of Ontario.

Andrew Newman, Partner, KPMG, and PSAB member

Andrew Newman is an Audit Partner with KPMG and is the Leader of KPMG’s Public Sector Audit Practice in Ottawa, serving governments, government organizations, education institutions and not-for-profit organizations.

He is currently a Board Member of the Public Sector Accounting Board, and was recently appointed the Chair of the Public Sector Accounting (PSA) Discussion Group.

Andrew is also the Leader of KPMG’s Canadian Education Practice (Universities, Colleges and School Boards). Andrew is KPMG Canada’s representative on the Executive Committee of KPMG’s International Center of Excellence for Education in London, England.

He received his Bachelor of Commerce (Honours) from Queen’s University in 1992 and his Chartered Accountancy designation in 1995.

Peter Martin, Director, AcSB

Peter Martin has served as the Accounting Standards Board (AcSB) Director since 2004. He is responsible for managing the staff that assists the AcSB in strategic and operational planning and in carrying out its programs for improving Canadian financial reporting through the adoption of International Financial Reporting Standards (IFRSs) and developing separate sets of standards for private enterprises and private sector not-for-profit organizations. Peter has been a member of the AcSB’s staff since 1990 and was involved in a number of standard setting projects. He also served as Secretary of the Emerging Issues Committee. Peter began his accounting career with Clarkson Gordon & Co. (now Ernst & Young) in Vancouver in 1972, and also worked in the firm’s National and Toronto offices. He subsequently worked for Placer Dome Inc., an international public mining company.

Tim Beauchamp, Director, PSAB

Tim Beauchamp is the Director of the Public Sector Accounting Board (PSAB) and is responsible for PSAB’s strategic and operating plans, and providing technical advice to PSAB and staff.

Prior to this, Tim worked in the public sector for over seven years and had responsibilities that included accounting, budgeting and debt management. He has been involved in accounting standard setting for the public sector since 1989.

Tim has served as a special advisor on various public sector financial reporting related committees, such as the Independent Accounting and Financial Auditing Advisory Committee of the Office of the Auditor General of Canada. He is also a regular speaker at events on public sector accounting and financial reporting issues and has taught at York University.