An Update on Accounting Standards:
Major Changes and Developments
By Linda F. Mezon, FCPA, FCA, CPA (MI)
Linda Mezon is the chair of the
Accounting Standards Board.
Note to readers: Linda Mezon has served as the chair of the Accounting Standards Board (AcSB) since July 2013. Prior to her appointment as chair,
Linda was the chief accountant at the Royal Bank of Canada, where she was responsible for the interpretation and application of IFRS and US
GAAP; there she also monitored compliance with Canadian regulatory requirements on financial disclosure and was responsible for auditor
independence. Linda has been a frequent speaker on the topic of IFRS, being able to represent both the preparer and standard-setter points
of view. She served as the AcSB vice-chair from January through June of 2013, and as an AcSB member from 2004 to 2012.
Here, Linda provides an update on the major changes and developments in the world of standard-setting.
Major private enterprise accounting standards on the horizon
We ha