Municipal Affairs and Environment

Public Sector Accounting Board (PSAB) - Who PSAB is Accountable To

PSAB is accountable to the Accounting Standards Oversight Council (AcSOC) to demonstrate that it has fulfilled its mandate effectively, efficiently and economically.

The responsibilities of AcSOC include:

  • Appointing individuals for membership on PSAB, including the respective Chairs and, where applicable, Vice-Chairs
  • Providing input to PSAB, primarily in terms of strategic direction and priorities
  • Ensuring PSAB bears in mind that the needs of users of financial information should be met and the most appropriate issues should be addressed in a suitable manner
  • Informing PSAB of the views of the diverse groups represented on AcSOC, as well as the views of other individuals or groups with an interest in accounting standards
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