International Public Sector Standards Setters Move to Toronto

The International Public Sector Accounting Standards Board has taken up Canada on a $1 million (US) incentive and office space and moved much of its operations, including Technical Director Stephanie Fox, to Toronto. Canadian Institute of Chartered Accountants (CICA) President Kevin Dancey and IFAC Chairman Graham Ward each celebrated the agreement and looked forward to its role in upgrading financial reporting of governmental entities. Some issues likely to be addressed include accrual accounting for governments and accounting for social policy obligations.

Congratulations to Toronto and Canada on this development. New link Neil McIntyre might have something to say about this soon.