The Independent Review Committee on Standard Setting in Canada (IRCSS) conducted a review of the governance and structure for establishing Canadian accounting, auditing, and assurance standards, and to identify what might be needed for the future – including sustainability standards.
The review was conducted between 2021 and 2023 and identified recommendations to ensure Canadian standard setting will continue to be independent and internationally recognized.
The review process included stakeholder dialogue and consultations, and the proposed recommendations underwent public consultation before being finalized and issued in March 2023.