Accounting Standards for Private Enterprises

Related Party Transactions

Summary

The Accounting Standards Board (AcSB) consulted with stakeholders about its priorities for domestic standards as per its 2017-2018 Annual Plan. During its consultations, the AcSB conducted a stakeholder survey.

The results of the survey identified Section 3840, Related Party Transactions in Part II of the Handbook as a high priority. A number of stakeholders identified accounting for related party combinations as an area of concern.

The Board is therefore, engaging in a research project to better understand the different types of related party combinations undertaken by private enterprises and not-for-profit organizations.

The Board is also researching the accounting challenges with these transactions.

Staff Contact(s)

Mohamed Hassanali, CPA, CA

Principal, Accounting Standards Board

Project Status

  • Information gathering

    Research underway on related party combinations

  • Approving project
  • Consulting stakeholders
  • Deliberating feedback
  • Final pronouncement


May 16, 2019 2019 Public Sector Standard Setters Forum – Hosted in Canada

The Public Sector Standard Setters Forum is being hosted in Canada this year! Taking place on June 24-25, 2019 in Niagara-on-the-Lake, Ontario, the Forum brings together public sector standard setters from across the globe in an informal environment. PSAB’s own Chair, Charles-Antoine St-Jean, and Director, Michael Puskaric, will be speaking.

May 15, 2019 In-person Workshop Session – CSQM 1

You are invited to attend an in-person workshop learn about the new Exposure Draft, Quality Management at the Firm and Engagement Level, Including Engagement Quality Reviews. This interactive workshop is taking place on May 15 and will provide details about the new proposals in CSQM 1. Register today to secure your spot!

May 15, 2019 AcSB Meeting – May 15, 2019

At its upcoming meeting the Board will consider matters regarding IFRS® Standards, standards for private enterprises, not-for-profit organizations and due process, among others.

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.