The Canadian Accessibility Standards Development Organisation’s (Accessibility Standards Canada) management is responsible for the information included in these statements. They are also responsible for the trustworthiness and objectivity of the attached financial statements for the year ended March 31, 2024. These financial statements were prepared by management using the Government of Canada's accounting policies. These policies are based on the accounting standards for the Canadian public sector.

Management is responsible for the trustworthiness and objectivity of the information in these financial statements. Some of the information in the financial statements is based on management's best estimates and judgment, and keeps the significance of certain amounts in mind.Management keeps records of Accessibility Standards Canada’s financial transactions in a central location to fulfill accounting and reporting requirements. Financial information in these statements are consistent with what was submitted for the Public Accounts of Canada and what appeared in our Departmental Results Report.

Management is responsible for maintaining an effective system of internal control over financial reporting (ICFR) designed to show that:

• The financial information is reliable;
• Assets are secured; and
• The approved and recorded transactions are in-line with the Financial Administration Act and other applicable legislation, regulations, authorities, directives and policies.

Management ensures that the data in its financial statements are objective and trustworthy through:

• The careful selection, training and development of qualified staff;
• Organizational planning that divides responsibilities appropriately.
• Communication programs that make sure Accessibility Standards Canada staff understand; 
  • regulations;
  • policies;
  • standards; and,
  • managerial authorities.

An annual risk-based assessment of the effectiveness of the system of the Internal Control over Financial Reporting (ICFR).

The system of ICFR is designed to lessen risks to a reasonable level. The ICFR is based on an ongoing process. It allows us to identify key risks, to assess effectiveness of our strategies, and to make any necessary changes. Accessibility Standards Canada will be subject to periodic Core Control Audits performed by the office of the Comptroller General and will use the results of such audits to follow the Treasury Board Policy on Financial Management.

Accessibility Standards Canada has used a risk-based assessment of its ICFR for the year ending on March 31, 2024. This is in line with the Treasury Board Policy on Financial Management. The results and action plans are summarized in the annex.

Statement of Financial Position (Unaudited)

For the year ended March 31

(in dollars)

Liabilities	2024	2023
Accounts payable and accrued liabilities (note 4)	2,701,825	2,325,395
Vacation pay and compensatory leave	406,330	383,551
Employee future benefits (note 5)	118,244	114,589
Total liabilities	3,226,399	2,823,535
Financial assets
Due from the Consolidated Revenue Fund	2,332,207	1,972,881
Accounts receivable and advances (note 6)	149,278	357,899
Total financial assets	2,481,485	2,330,780
Net debt	744,914	492,755
Non-financial assets
Prepaid expenses	4,064	1,549
Tangible capital assets (note 7)	2,274,091	2,689,232
Total non-financial assets	2,278,155	2,690,781
Net financial position	1,533,241	2,198,026

The accompanying notes form an integral part of these financial statements.

Statement of Operations and Net Financial Position (Unaudited)

For the year ended March 31

(in dollars)	2023 Planned Results (note 2)	2024	2023
Expenses
Accessibility Standards	15,705,421	17,315,557	15,046,936
Internal Services	6,222,526	5,257,782	4,905,013
Total Expenses	21,927,947	22,573,339	19,951,949
Total Revenues	-	-	-
Net cost of operations before government funding	21,927,947	22,573,339	19,951,949
Government funding
Net cash provided by Government of Canada		20,937,651	19,226,778
Change in due from the Consolidated Revenue Fund		359,323	(265,491)
Services provided without charge by other government departments (note 9)		614,128	483,309
Transfers of assets and liabilities from other government departments		(2,548)	20,051
Net cost (revenue) of operations after government funding		664,785	487,301
Net financial position - Beginning of year		2,198,026	2,685,327
Net financial position - End of year		1,533,241	2,198,026

The accompanying notes form an integral part of these financial statements.

Statement of Change in Net Debt (Unaudited)

For the year ended March 31

(in dollars)	2023	2022
Net cost (revenue) of operations after government funding	664,785	487,301
Change due to tangible capital assets
Acquisition of tangible capital assets (note 7)	-	-
Amortization of tangible capital assets (note 7)	(415,140)	(415,141)
Total change due to tangible capital assets	(415,140)	(415,141)
Change due to prepaid expenses	2,516	1,549
Net increase in net debt	252,161	73,709
Net debt - Beginning of year	492,755	419,046
Net debt - End of year	744,916	492,755

Statement of Cash Flows (Unaudited)

For the year ended March 31

(in dollars)	2024	2023
Operating activities
Net cost of operations before government funding	22,573,339	19,951,949
Non-cash items:
Amortization of tangible capital assets (note 7)	(415,140)	(415,141)
Services provided without charge by other government departments (note 9)	(614,128)	(483,309)
Variations in Statement of Financial Position:
Increase (decrease) in accounts receivable and advances (note 6)	(208,621)	100,657
Increase in prepaid expenses	2,516	1,549
Decrease (increase) in accounts payable and accrued liabilities (note 4)	(376,430)	170,131
Increase in vacation pay and compensatory leave	(22,778)	(133,266)
Decrease (increase) in employee future benefits (note 5)	(3,655)	54,260
Transfer of assets from other government departments	2,548	(20,051)
Cash used in operating activities	20,937,651	19,226,778
Capital investing activities
Acquisition of tangible capital assets (note 7)	-	-
Cash used in capital investing activities	-	-
Net cash provided by Government of Canada	20,937,651	19,226,778

1. Authority and objectives

The Canadian Accessibility Standards Development Organization (Accessibility Standards Canada, or the Organization) promotes an inclusive and accessible society. People with disabilities are actively and meaningfully involved in our practices under the Accessible Canada Act. Its purpose is to benefit all persons, especially persons with disabilities. Accessibility Standards Canada is working towards a Canada without barriers.

The Organization is established under the authority of Schedule II of the Financial Administration Act and is funded through annual appropriations.

The Board of Directors is responsible for reporting to Parliament on the results achieved by the Organization through its two segments of activities: Accessibility Standards and Internal Services

Accessibility Standards

Create and improve accessibility standards by supporting research to diverse technical committees. Promote, support and do research that strengthens the creation of standards. Inform organizations and the public. Provide products and services about accessibility standards. Engage in best practices to identify, remove and prevent accessibility barriers.

Internal Services

Internal Services are related activities and resources that support the needs of programs and other corporate responsibilities of an organization. Internal services include only those activities and resources that apply across an organization. They are not provided to specific programs. The groups of activities are:

• Management and Oversight Services (which includes activities of the Board of Directors);
• Communications Services;
• Legal Services;
• Human Resources Management Services;
• Financial Management Services;
• Information Management Services;
• Information Technology Services;
• Real Property Management Services;
• Material Management Services; and
• Acquisition Management

2. Summary of important accounting policies

These financial statements were prepared using the Government of Canada's accounting policies listed below. They are based on Canadian public sector accounting standards. The use of these accounting policies do not result in any big differences from Canadian public sector accounting standards.

The accounting policies used are:

a) Parliamentary authorities

The Government of Canada funds Accessibility Standards Canada through Parliamentary authorities. The financial reporting used by Parliament is not the same as financial reporting according to generally accepted accounting principles since funds provided by Parliament are based on the cash needed by Accessibility Standards Canada. These differences in reporting mean that the Statement of Operations and Net Financial Position and the Statement of Financial Position prepared by Accessibility Standards Canada are not the same as those provided to Parliament. Note 3 provides a reconciliation between the two types of reporting. The amounts for planned results in the Expenses section of the Statement of Operations and Net Financial Position are the same as the amounts in the Future Oriented Statement of Operations included in the 2023-24 Departmental Plan.

2. Summary of important accounting policies (continued)

b) Net Cash Provided by Government of Canada

Accessibility Standards Canada operates within the Consolidated Revenue Fund (CRF). This fund is administered by the Receiver General for Canada. All cash received by the Organization is given to the CRF electronically. All payments made by Accessibility Standards Canada are paid from the CRF. The net cash provided by the Government of Canada is the difference between all cash received and all cash used. This includes cash exchanged between departments of the Government of Canada.

c)Due from the Consolidated Revenue Fund

There is a delay between when a transaction affects authorities and when it is processed in the CRF. Because of this, amounts due from the CRF represent the amount of cash that Accessibility Standards Canada can get from the CRF without needing additional approval.

d) Expenses

Expenses are recorded on the accrual basis:

• Transfer payments are recorded as an expense in the year the transfer is approved, and all eligibility conditions are
• Vacation pay and compensatory leave are accrued as they are earned by employees. These depend on the terms of their employment.
• Services provided for free by other government departments are recorded as if the normal fee was This applies to the following items:
  • Employer's payments to the health and dental insurance plans; and
  • Legal services and workers'

e)Employee future benefits

• Pension benefits - Eligible employees participate in the Public Service Pension This is a pension plan that multiple employers pay into and is managed by the Government of Canada. Accessibility Standards Canada’s payments to the Plan are recorded as expenses on an accrual basis and represent the total Accessibility Standards Canada obligation to the Plan. The Organization’s responsibility is to make the contributions it is required to make. Actuarial surpluses or deficiencies in the Plan appear in the financial statements of the Government of Canada, as the Plan’s sponsor.

• Severance benefits - The growth of these benefits for employees who left voluntarily ended for applicable employee groups. The amounts owed to employees who chose not to be paid-out at that time are calculated based on amounts owed for employee severance benefits for the Government as a whole.

f) Accounts receivable

Amounts that are owed to the Organization are recorded based on what they actually cost. Sometimes, these need to be adjusted to show a different amount if the full amount cannot be recovered.

2. Summary of important accounting policies (continued)

g) Related Party Transactions

Transactions that are recorded at the amount that was actually paid.

Transactions between related organizations are recorded at the price that would have been paid if not for the relationship between the organizations. There are exceptions for:

1. Services provided on a recovery basis. These are recorded as earnings and expenses on a gross basis and based on what was actually paid.
2. Services received for free are recorded for departmental financial statement purposes but their value is reduced each year based on how long the department plans to use them.

h) Measurement uncertainty

Preparing these financial statements means that management needs to make estimates and assumptions that affect the reported and disclosed amounts of the following:

• Assets;
• Liabilities;
• Revenues; and

These are reported in the financial statements and attached notes on March 31. The estimates are based on:

• Facts and
• Historical experience; and
• General economic

This reflects Accessibility Standards Canada's best estimates of the amount at the end of the reporting period.

The most important items where estimates are used are the following:

• Amounts owed for vacation pay;
• Employee future benefits; and
• The amount of time assets is useful

Actual results could differ greatly from these estimates. Management’s estimates are reviewed from time to time. As changes are needed, they are recorded in the financial statements in the year they become known.

3. Parliamentary authorities

Accessibility Standards Canada receives its funding through parliamentary payments each year. Items recognized in the Statement of Operations and Net Financial Position and the Statement of Financial Position in one year may be funded through parliamentary authorities in prior, current or future years. Accessibility Standards Canada has different net results of operations for the year on a government funding basis than on an accrual accounting basis. The differences are explained in the following tables.

a) Reconciliation of net cost of operations to current year authorities used

 

(in dollars)	2024	2023
Net cost of operations before government funding	22,573,339	19,951,949
Adjustments for items affecting net cost of operations but not affecting authorities:
Services provided without charge by other government departments (note 9)	(614,128)	(483,309)
Amortization of tangible capital assets (note 7)	(415,140)	(415,141)
Increase in vacation pay and compensatory leave	(22,779)	(133,267)
Accrued liabilities not charged to authorities	6,954	(6,954)
Decrease (increase) in employee future (note 5)	(3,655)	54,260
Refund of prior years' expenditures	42,377	57,090
Refund of program expenditures		(6,954)
Total adjustments for items affecting net cost of operations but not affecting authorities	(1,006,371)	(934,275)
Adjustments for items not affecting net cost of operations but affecting authorities:
Increase in prepaid expenses	2,516	1,549
Employee advances and overpayments	19,721	47,377
Total adjustments for items not affecting net cost of operations but affecting authorities	22,237	48,926

b) Authorities provided and used

 

(in dollars)	2024	2023
Authorities provided:
Vote 1 - Program expenditures	21,321,420	20,786,516
Statutory amounts - Contributions to employee benefits plan	1,017,009	792,650
Less:
Lapsed authorities	(749,224)	(2,512,566)
Current year authorities used	21,589,205	19,066,600

 

4. Accounts payable and accrued liabilities

The following table presents details of Accessibility Standards Canada’s accounts payable and accrued liabilities.

(in dollars)	2024	2023
Accounts Payable - Other government departments and agencies	233,737	49,189
Accounts Payable - External parties	1,926,472	1,853,438
Accrued liabilities	541,616	422,768
Total accounts payable and accrued liabilities	2,701,825	2,325,395

5. Employee future benefits

a) Pension benefits

Accessibility Standards Canada's employees participate in the Public Service Pension Plan (Plan). This is managed by the Government of Canada. Pension benefits accrue for up to 35 years. It is recorded at a rate of 2% per year of pensionable service, times the average of the best five years of earnings in a row. The benefits work with Canada/Québec Pension Plans benefits and they are increased by cost of living each year.

Both the employees and Accessibility Standards Canada make payments toward the cost of the Plan. Due to the changes to the Public Service Superannuation Act because of the Economic Action Plan 2012, employees who pay into the Plan have been divided into two groups. These two groups are:

Group 1: relates to existing plan members as of December 31, 2012; and Group 2: relates to members joining the Plan as of January 1, 2013.

Each group has a separate payment rate.

The 2023-24 expense is $602,171 ($517,838 in 2022-23). For Group 1 members, the expense is about 1.01 times the employee payments to the plan. For Group 2 members, the expense is about 1 time the employee payments to the plan.

Accessibility Standards Canada's responsibility to the Plan is limited to its payments to the plan. Surpluses or deficiencies are presents in the consolidated financial statements of the Government of Canada, as the Plan’s sponsor.

b) Severance benefits

Severance benefits paid out to employees that voluntarily leave the government used to be based on an employee’s eligibility, years of work and salary at the end of their employment. Since 2011, the growth of benefits for employees who leave voluntarily ended for most employees. Employees affected by these changes were given two options:

• to be paid the full or partial value of benefits earned to date; or
• to collect the full or remaining value of benefits upon ending your employment for the

As of March 31, 2024, most settlements for quick payout ended. The remaining obligation will be paid upon ending one’s employment with the government. These benefits are unfunded. The remaining obligation will be paid from future funds.

Together, pension benefits and severance benefits constitutes the organizations employee future benefits. Changes in the benefit obligation during the year were as follows:

(in dollars)	2024	2023
Accrued benefit obligation, beginning of year	114,589	168,849
Expense for the year	3,655	(54,260)
Accrued benefit obligation, end of year	118,244	114,589

6. Accounts receivable and advances

The following table presents details of Accessibility Standards Canada’s accounts receivable and advances balances:

(in dollars)	2024	2023
Accounts receivable - Other government departments and agencies	114,341	300,661
Accounts receivable - External parties	-	384
Employee advances and overpayments	34,937	56,854
Net accounts receivable	149,278	357,899

7. Tangible capital assets

All physical assets and improvements to a space paid for by the tenant that originally cost $10,000 or more are recorded based on what Accessibility Standards Canada actually paid for it. However, each year the value of the asset is reduced based on how long we plan to use it.

Assets under construction are recorded differently than in the capital asset class above. The reduction of their value over time only starts the year that construction ends and the asset is available to use.

Asset class	Amortization period
Informatics hardware	3 to 10 years
Informatics software	2 to 10 years
Other equipment	3 to 10 years
Leasehold improvements	3 to 30 years

Cost (in dollars)

Capital Asset Class	Opening Balance	Acquisitions	Disposals, Write- Offs and Transfers	Closing Balance
Other equipment	487,443	-	-	487,443
Leasehold improvements	2,885,347	-	-	2,885,347
Total	3,372,790	-	-	3,372,790

Accumulated amortization

(in dollars)	Opening Balance	Amortization	Disposals, Write- Offs and Transfers	Closing Balance
Other equipment	154,137	97,488	-	251,625
Leasehold improvements	529,421	317,653	-	847,074
Total	683,558	415,140	-	1,098,699

Net book value

(in dollars)	2023	2024
Other equipment	333,306	235,818
Leasehold improvements	2,355,926	2,038,273
Total	2,689,232	2,274,091

8. Contractual obligations

Accessibility Standards Canada's activities often include some large contracts that carry on for multiple years. Accessibility Standards Canada will need to make future payments when the services or goods are received. Large contractual obligations that can be reasonably estimated are noted below:

(in dollars)	Related Parties	Acquisitions of goods and services	Operating leases	Total
2025	801,038	1,528,441	-	2,329,479
2026	326,677	155,775	-	482,452
2027	225,932	-	-	225,932
2028	225,932	-	-	225,932
2029	220,932	-	-	220,932
Total	1,800,511	1,684,216	-	3,484,727

9. Related party transactions

Accessibility Standards Canada is related, because of common ownership, to all government departments, agencies, and Crown corporations. Accessibility Standards Canada enters into transactions with these organizations in the normal course of business and on normal trade terms.

Transactions with key management personnel would also be considered related party transactions. Accessibility Standards Canada has defined its key management personnel as the Chief Executive Officer for the year ending March 31, 2021.

a) Services provided without charge by common service organizations

During the year, Accessibility Standards Canada received services for free from common service organizations. These services provided for free have been recorded at the carrying amount in the Organization’s Statement of Operations and Net Financial Position as follows:

(in dollars)	2024	2023
Employer's contribution to the health and dental insurance plans	614,128	483,309
Total	614,128	483,309

b) Other transactions with related parties

Accessibility Standards Canada incurred expenses from transactions in the normal course of business with other government departments, agencies and Crown corporations. A portion of these expenses come from shared services agreements with other government departments related to the provision of Finance, Human Resources, Administrative and Information Technology internal support services. The expenses are $644,218 in 2023-24 and are included in the total amount of transactions with related parties.

These expenses exclude services received for free, which are already disclosed in a). Contractual obligations with related parties, as shown in note 8 above, amount to a total of $3,484,727 over the next five years.

(in dollars)	2024	2023
Expenses for internal support services	644,218	616,974
Expenses for other business operations	1,954,131	5,459,125
Tangible capital asset acquisitions	-	-
Accounts payable	233,737	49,189
Accounts receivable	114,341	300,661

Expenses disclosed in (b) exclude common services provided for free, which are already disclosed in (a).

10. Segmented information

Accessibility Standards Canada has two segments of activities: Accessibility Standards and Internal Services, defined in note 1.

The presentation by segment is based on the same accounting policies noted in the Summary of important accounting policies in note 2.

The table below presents the results for each of the two segments during the period.

(in dollars)	Accessibility Standards	Internal Services	2024	2023
Transfer payments
Individuals	8,500,000	-	8,500,000	8,479,256
Total transfer payments	8,500,000	-	8,500,000	8,479,256
Operating expenses
Salaries and employee benefits	5,140,707	3,487,824	8,628,531	6,804,509
Professional and special services	2,976,105	1,167,804	4,143,909	3,456,643
Amortization of tangible capital assets	269,073	146,067	415,140	415,142
Information	239,532	122,914	362,446	246,629
Accommodation 1	144,230	77,662	221,892	231,315
Travel 2	42,577	184,593	227,170	270,223
Equipment expenses	-	21,785	21,785	12,845
Repair and maintenance	-	20,904	20,904	174
Rentals 1	18,046	339	18,385	25,656
Utilities, materials and supplies	1,225	8,696	9,921	6,679
Communication 2	38	3,218	3,256	2,878
Total operating expenses	8,831,533	5,241,806	14,073,339	11,472,693
Total expenses	17,331,533	5,241,806	22,573,339	19,951,949
Net cost from continuing operations	17,331,533	5,241,806	22,573,339	19,951,949

• Per note 11, the 2023 comparative figures have been reclassified to differentiate Accomodation from rentals

• Per note 11, the 2023 comparative figures have been reclassified to differentiate Travel from Communications

11. Comparative information

Certain comparative figures have been reclassified to conform to the current year’s presentation.

Annex A: Internal Control Over Financial Reporting

A.1 Introduction

In support of an effective system of internal controls, Accessibility Standards Canada assesses the performance of its

• financial arrangements or contracts are entered into only when enough funding is available;

• payments for goods and services are made only when the goods or services have been received and all
• payments have been properly approved.

Accessibility Standards Canada will leverage the results of the periodic core control audits performed by the Office of the Comptroller General.

No assessments have been performed as at March 31, 2023.

A.2 Assessment Plan

Accessibility Standards Canada will continue to monitor the performance of its system of internal controls. It will focus on the core controls related to financial transactions.