Accounting and Financial Reporting Committee

• Intelligence Gathering: The committee will be an important source of information on emerging issues in accounting, financial reporting or legislation.
• Policy/Comments: The committee will provide policy recommendations or comments on such things as PSAB exposure drafts for the consideration of MFOA’s Board of Directors
• Training/Education: The committee will assist us in preparing and designing training materials related to financial reporting and accounting for our members.
• Advocacy: The committee will develop positions to influence accounting standard setters or provincial ministries with respect to issues related to accounting and financial reporting.

• Elicit policy opinions and issues from Committee members and non-Committee members
• Identify a few core issues and develop solutions or remedies
• To develop policies and positions to assist the membership
• Disseminate information to non-Committee members about the Committee’s discussions and activities
• To assist the MFOA in promoting the interests of its members on important and emerging accounting and financial reporting issues and representing those interests to the provincial government and other stakeholders

• The committee will be comprised of a maximum of 12 people
• Committee members should have responsibility for some aspect of accounting or financial reporting in their municipality.
• In the interest of allowing other MFOA members to participate, Committee membership will be limited to a single term of two years.
• A member cannot serve consecutive terms, but can be re-appointed following a hiatus of two years.
• New Committee members are appointed by the Board of Directors of MFOA from members who have expressed an interest in the work of the committee.
• The Executive Director of MFOA is a member of the committee.

• There will be at least four meetings per year of the committee.
• The committee can meet more frequently if necessary.
• Meetings will be via conference call or other electronic medium to encourage greater participation and reduce travel time and costs.

• Colin Macdonald, MFOA, will chair the Committee.