Chartered Accountant Edmonton, AB

							Connie E. Lloyd                                      10312 – 77 Street
  Chartered Accountant                               Edmonton, AB T6A 3C3
  Certified Financial Planner                        Tel: (780)429-3387
                                                     Fax: (780)429-3389



     October 30, 2007

     Accounting Standards Board
     277 Wellington Street West
     Toronto, Ontario M5V 3H2

     Attention:    Mr. Peter Martin
                   Director, Accounting Standards

     Dear Mr. Martin:

     Financial Reporting by Private Enterprises

     I would like to thank the Accounting Standards Board for the
     opportunity to comment on the future of financial reporting by private
     enterprises.   I am a public accounting firm in Edmonton, Alberta,
     practicing since 1992.     I provide compilation reports for owner-
     operated entities.

     I support Option 3 – an independently developed set of standards.

     I also suggest that this set of standards might take on the format of
     the CICA Handbook of 10 to 15 years ago.       That Handbook had basic,
     sound accounting principles which were then expected to be applied by
     competent accountants, using their professional judgment and their
     knowledge of their clients to best meet the needs of those clients.

     Perhaps the CICA’s latest initiative, AHOME, is more in keeping with an
     older version of the Handbook. The information I have received so far
     regarding AHOME is that it suggests removing or streamlining a lot of
     sections in the current Handbook to provide a more basic set of
     standards for the majority of clients in Canada.

     I believe my clients need straight-forward, easy         to   understand
     financial statements provided at a reasonable cost.

     Yours very truly,



     Connie E. Lloyd
     Chartered Accountant