The future of standard setting

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Consultation has concluded

The Independent Review Committee on Standard Setting in Canada is currently conducting a review of the governance and structure for establishing Canadian accounting, auditing, and assurance standards, as well what might be needed for the future – including sustainability standards.

Right now, the Committee is talking with organizations and individuals across the country on its Consultation Paper, getting feedback on the key matters they believe are important to consider for the future of standard setting in Canada.

These key matters include:

  • the overall governance and oversight framework of the Canadian standard-setting system, including its legal structure and funding mechanisms;
  • consideration of public interest and responsibilities to Indigenous peoples in the development of standards;
  • timeliness and responsiveness of the current accounting, auditing and assurance standard-setting processes; and
  • the recommendation to establish a Canadian Sustainability Standards Board, with consideration of its governance and accountability framework.

Shape the future of Canadian standard setting by participating in online consultation activities that will be hosted by Connect.FRASCanada.ca throughout the consultation period, closing March 31, 2022.



The Independent Review Committee on Standard Setting in Canada is currently conducting a review of the governance and structure for establishing Canadian accounting, auditing, and assurance standards, as well what might be needed for the future – including sustainability standards.

Right now, the Committee is talking with organizations and individuals across the country on its Consultation Paper, getting feedback on the key matters they believe are important to consider for the future of standard setting in Canada.

These key matters include:

  • the overall governance and oversight framework of the Canadian standard-setting system, including its legal structure and funding mechanisms;
  • consideration of public interest and responsibilities to Indigenous peoples in the development of standards;
  • timeliness and responsiveness of the current accounting, auditing and assurance standard-setting processes; and
  • the recommendation to establish a Canadian Sustainability Standards Board, with consideration of its governance and accountability framework.

Shape the future of Canadian standard setting by participating in online consultation activities that will be hosted by Connect.FRASCanada.ca throughout the consultation period, closing March 31, 2022.



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