Effective May 1, 2006, R. Paul Goodyear, territorial financial secretary, is appointed chair of the Not-for-profit Advisory Committee to the Accounting Standards Board. There is real benefit to The Salvation Army to have someone involved in this group.

The Not-for-Profit Advisory Committee to the Accounting Standards Board has a mandate to provide advice to the board concerning accounting standards and their impact on Not-for-Profit organizations in Canada. A recent study by Statistics Canada suggests that the Not-for-Profit sector in Canada includes 161,000 organizations with $112 billion in revenues. Of these, 56% or 90,000 organizations are registered charities.

The size of the sector means that the committee has a significant role to play in representing so many diverse organizations in ensuring that their perspective is considered when the standards that govern accounting and financial reporting in Canada are being set.

In recent days, the Accounting Standards Board has adopted a strategy of converging its standards for public companies to those of the International Accounting Standards Board. This means that the role of the Not-for-Profit Advisory Committee will assume a greater significance in the future as they determine the best course for Canadian Not-for-Profit organizations.

The Salvation Army is one of the major charities and Not-for-Profit organizations in the country. Because there are numerous types of Not-for-Profit organizations operating under the Army's umbrella (church congregations, hospitals, ancillary operations, such as thrift stores, etc.), it is valuable from the Army's aspect to have someone who understands the organization at the table to ensure that our voice is heard and our perspective considered.