<Table> <Tr> <Td> </Td> <Td> This article contains weasel words: vague phrasing that often accompanies biased or unverifiable information . Such statements should be clarified or removed . (September 2015) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article contains weasel words: vague phrasing that often accompanies biased or unverifiable information . Such statements should be clarified or removed . (September 2015) </Td> </Tr> <P> The Accounting Standards Board (AcSB) establishes accounting standards for use by private enterprises and private sector not - for - profit organizations . The AcSB contributes to the development of International Financial Reporting Standards (IFRSs) by participating in consultations and activities of the International Accounting Standards Board (IASB) to ensure Canadian publicly accountable entities' financial reporting needs are considered . The AcSB develops and participates in the development of high - quality financial reporting standards . </P> <P> As an independent body, the AcSB is intended to make clients confident and promote objectivity, which helps organizations make informed decisions on where to allocate their financial assets . </P>

Which one is the primary accounting standard-setting body in canada