UPDATED ON: Thursday, March 31, 2005
Accounting Standards Oversight Council:
Terry Paton, FCA,
Chair, Public Sector Accounting Board, (PSAB)
From The Globe and Mail
Accounting Standards Oversight Council
Terry Paton, FCA
Thomas Allen, QC, the outgoing Chair of the Accounting Standards Oversight Council (AcSOC), is pleased to announce the appointments of Douglas M. Hyndman as Chair, Denis Desautels as Vice Chair of the Accounting Standards Oversight Council (AcSOC), and Terry Paton as Chair, Public Sector Accounting Board (PSAB) effective April 1, 2005.
Douglas Hyndman, MBA, is Chair, British Columbia Securities Commission, and Denis Desautels, OC, FCA, was Auditor General of Canada from 1991 to 2001.
Terry Paton, FCA, is currently Provincial Comptroller for the Province of Saskatchewan. He is currently Vice Chair of PSAB and has served on the CICA Accounting Standards Board (AcSB.)
The mission of the Public Sector Accounting Board (PSAB) is to serve the public interest by setting standards and providing guidance for financial and other performance information reported by the public sector.
The Accounting Standards Oversight Council (AcSOC) is an independent body established by the Canadian Institute of Chartered Accountants to oversee the activities of the Accounting Standards Board (AcSB) and Public Sector Accounting Board (PSAB). Reporting to the public and consisting of 26 prominent business and government leaders, the Council brings a broad perspective to complex issues facing standard setters, and supports the AcSB and PSAB in setting accounting standards. AcSOC's responsibilities include appointing AcSOC, AcSB and PSAB members and providing input on strategic priorities. AcSOC members, many of whom represent particular constituencies, include regulators, investors and other users, preparers and auditors of financial reports.