Standards Digest ACCOUNTING AND AUDITING STANDARD-SETTING IN CANADA HOT TOPIC
Standard-Setting Boards and Oversight Councils Rebrand
THE ACCOUNTING and auditing stan- dards boards and oversight coun- cils are refreshing their look! A new visual identity was created to take these standard-setting bodies into 2017 and beyond, supported by a strategy aimed at raising awareness of their work and the value they bring to Canada’s finan- cial reporting supply chain.
The Design The new visual identity is composed of the following qualities: • Maple leaf to symbolize Canadian pride • Common design to each logo to demonstrate the connection between all the standard-setting boards and oversight councils • Circle of five dots denoting the family of five standard-setting bodies: 1. Accounting Standards Oversight Council (AcSOC) 2. Auditing and Assurance Standards Oversight Council (AASOC) 3. Accounting Standards Board (AcSB) 4. Public Sector Accounting Board (PSAB)
5. Auditing and Assurance Standards Board (AASB) • Meaningful colour scheme
The Colour Scheme The uniqueness of the boards’ versus the oversight councils’ missions was leveraged to identify a colour scheme that captured their distinctive roles. AcSOC and AASOC share a deep blue, traditionally symbolizing wisdom, trust and intelligence. These key traits are what the oversight councils’ members bring to the table as they oversee the entire financial reporting and assurance standard-setting process, helping to ensure that the public interest is being served with extensively researched and robust standards that are reflective of business in Canada today. The AcSB, PSAB and the AASB share a deep red, which is typically associated with traits such as passion, action and leadership. Each board embodies these powerful traits as they are responsible for collaborating with Canadians and using their fact-based decision-making skills, broad and diverse perspectives,
● New standards!
Go to
www.frascanada.ca/effective- dates to stay on top of recently issued pronouncements and when these standards become effective.
EFFECTIVE DATES
and profound expertise to set high- quality standards. Tying all five standard-setting bodies together is the royal purple Financial Reporting and Assurance Standards (FRAS) Canada logo. With a colour that brings together the boards’ red and oversight councils’ blue, FRAS Canada is the umbrella term for Canada’s accounting and auditing standard- setting family. Stay tuned to
www.frascanada.ca as
this new brand starts rolling out this spring.
MARCH 2017 | CPA MAGAZINE | 13
Katie Edwards/Getty Images
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