Disclosure of Related Party Transactions by Not-for-Profit Organizations

BACKGROUND

This project is being undertaken in response to feedback from public sector stakeholders to the April 2013 AcSB/PSAB joint Statement of Principles, “Improvements to Not-for-Profit Standards.”

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Responses to the Statement of Principles generally agreed that Section PS 4260, Disclosure of Related Party Transactions by Not-for-Profit Organizations, could be withdrawn when PSAB approved a standard on related party transactions that applied to the public sector. Section PS 2200, Related Party Disclosures was issued in March 2015.

The objective of this project is to withdraw Section PS 4260, Disclosure of Related Party Transactions by Not-for-Profit Organizations.

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PROJECT NEWS

Basis for Conclusions – Withdrawal of Disclosure of Related Party Transactions by Not-for-Profit Organizations – Section PS 4260
December 6, 2016. This document sets out how PSAB reached its conclusions. As well, it sets out significant matters arising from comments received in response to its Exposure Draft and indicates how the Board dealt with the issues raised.

PSAB Decision Summary – September 26-27, 2016
PSAB reviewed responses to the Exposure Draft, “Withdrawal of Disclosure of Related Party Transactions by Not-for-Profit Organizations, Section PS 4260.”

PSAB approved the withdrawal of Section PS 4260, Disclosure of Related Party Transactions by Not-for-Profit Organizations.

Exposure Draft – Withdrawal of Disclosure of Related Party Transactions by Not-for-Profit Organizations, Section PS 4260
January 25, 2016. The Board has issued an Exposure Draft that proposes to withdraw Section PS 4260 and amend the transitional provisions of Section PS 2200, Related Party Disclosures. Stakeholders are encouraged to submit their comments, on the form provided, by April 29, 2016.

PSAB Decision Summary – June 18-19, 2015
PSAB approved, in principle, an exposure draft proposing withdrawal of Section PS 4260, Disclosure of Related Party Transactions by Not-for-Profit Organizations, and amendments to the transitional provisions in Section PS 2200, Related Party Disclosures, for not-for-profit organizations applying the PSA Handbook including the PS 4200 series.  

PSAB also discussed a project plan to improve standards for not-for-profit organizations.

 

Disclaimer: This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal ballot process.