The Accounting Standards Board (AcSB) proposes, subject to comments received following exposure, to amend FINANCIAL INSTRUMENTS, Section 3856 in Part II of the CPA Canada Handbook – Accounting as set out in this Exposure Draft. These amendments would also apply to not-for-profit organizations (NFPOs) using the standards in Part III.
The Board understands that some stakeholders raised various issues regarding Section 3840. The objective of these proposals is to address concerns on the accounting for related party financial instruments. The Board is considering whether to undertake a project relating to Section 3840 in the context of its consultation with stakeholders about the relative priorities for Part II projects.