Are You in the Right Place?
If you are a private or public sector not-for-profit organization (NFPO),
you are in the right place on www.frascanada.ca.
The Standards for Not-for-Profit Organizations webpages provide you with news and information specific to standards for NFPOs.
However, private and public sector NFPOs should also be aware of other news and information relating to standards for private enterprises or public sector entities, respectively.
Private Sector NFPOs
Private sector NFPOs are required to adopt accounting standards for NFPOs (i.e., Part III of the CPA Canada Handbook – Accounting in conjunction with accounting standards for private enterprises in Part II). Accordingly, private sector NFPOs should also monitor activities related to standards for private enterprises, as amendments made to those standards may affect them.
Alternatively, private sector NFPOs may choose to adopt International Financial Reporting Standards if doing so better meets the needs of the users of their financial statements.
Public Sector NFPOs
Public sector NFPOs are required to adopt the CPA Canada Public Sector Accounting (PSA) Handbook, either with or without the standards specific to NFPOs (Sections PS 4200 to PS 4270). Accordingly, public sector NFPOs should also monitor activities related to standards for public sector entities. Amendments made to those standards may affect them.