Please Read: Indigenous Community Benefit Disclosure Standard

Introduction:

Welcome to a pivotal moment in the journey of the Pehta Foundation. Today, we are proud to introduce the Exposure Draft of the Pehta Framework, a groundbreaking initiative that aims to standardize and enhance the reporting of Indigenous Benefit and Opportunity data in Canada. This step marks a significant milestone in our mission to ensure transparency, credibility, and comparability in the accounting and financial reporting of public companies concerning their impact on Indigenous communities.

What is the Exposure Draft?

The Exposure Draft represents a proposed standard in the realm of Indigenous Community Benefit Accounting. It is not the final version but a critical step in developing a robust and effective framework. The draft embodies our commitment to comprehensive research, public discourse, and the incorporation of diverse perspectives in shaping standards that resonate with Indigenous communities and the investment market.

Your Voice Matters:

We invite you to participate in this transformative process. Your feedback, whether in agreement or dissent, is invaluable. We encourage professional accounting firms, industry associations, Indigenous communities, and all industry stakeholders to review the draft and share insights, concerns, and alternative suggestions. Your input is crucial in refining the Exposure Draft into a comprehensive and actionable Financial Accounting Standard.

Please include the version number of the Exposure Draft you are making comments on. The version number is found at the bottom right corner of the cover page of the Pehta Framework. We may make micro changes over the course of the Exposure Draft period and want to be certain your comments reflect the version you review.

Why Participate?

Your contribution to the Exposure Draft is more than just feedback – it's an opportunity to shape a framework that aligns with the aspirations and needs of Indigenous communities. By participating, you help ensure that the Pehta Framework is not only a standard but a beacon of empowerment and sustainable collaboration between industries and Indigenous communities.

How is your feedback incorporated?

Feedback is brought back to the Technical Advisory Committee (TAC) for consideration of inclusion. Once the TAC has had a chance to review and discuss your feedback the modifications may be applied based on relevancy in ensuring the changes meet the expectations of Indigenous communities. There will be a second Exposure Draft period for additional feedback. Once the second exposure draft period has expired, the final round of feedback is considered and presented to the Community Acceptance Board (CAB) for ratification into the formal standard.

Join Us in This Endeavor:

The journey towards a standardized and credible Indigenous Community Benefit Disclosure Framework is a collective effort. Your engagement and input are vital in creating a future where financial reporting resonates with the values and expectations of Indigenous communities and the broader investment market.