Enhancing relevance AcSB’s 2022-2027 Draft Strategic Plan

Kelly Khalilieh
Kelly Khalilieh

By Kelly Khalilieh, CPA, CA         

Kelly Khalilieh, CPA, CA, is the Director, Accounting Standards, with the Canadian Accounting Standards Board (AcSB). She is leading the AcSB’s efforts to develop the next strategic plan for the period of April 1, 2022 to March 31, 2027. As well, with a focus on improving the quality of information reported by Canadian entities, Kelly leads the Accounting Standards group in developing new reporting standards and reviewing existing standards in collaboration with external stakeholders and volunteers. Kelly has over 20 years of experience working in many areas of accounting, including standard setting, public accounting as an Associate Partner at a national accounting firm and as a forensic accountant. 

The 2022-2027 Draft Strategic Plan is open for comment until October 15, 2021 and identifies proposals to address the changing needs of the AcSB’s stakeholders.  This is your chance to share your views and shape the future of accounting standard setting in Canada.                                   

It has been 10 years since the AcSB established separate standards for different categories of reporting entities in the four parts of the Handbook. Since then, Canada’s financial reporting landscape has evolved considerably. 

The current reporting landscape continues to grow in diversity, with each stakeholder group having differing needs. With ongoing changes in the economic environment, many users are also increasingly relying on information reported outside of financial statements to make decisions, adding to the complexity.

The AcSB intends to focus on enhancing the relevance of financial and non-financial information reported, including identifying how best to support Canadian stakeholders beyond traditional financial statements. 

As a result, the Plan 2022-2027 proposes the following three strategies:

  • Deliver relevant and high-quality accounting standards.
  • Demonstrate leadership in reporting beyond traditional financial statements.
  • Raise the AcSB’s international influence.

Your feedback to the Draft Strategic Plan 2022-2027 is important. I invite you to review the Draft Strategic Plan 2022-2027 at Share your views – AcSB Draft Strategic Plan 2022-2027 (frascanada.ca) and share your feedback through the following: