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Post-implementation Review of Section 3856 – AcSB

Date recorded:

At its meeting on September 20-21, 2017, the AcSB considered the proposed drafting of the amendments. The Board decided that:

  • the scope of the standards should clarify when an enterprise applies Section 3856, Financial Instruments or Section 3840, Related Party Transactions for related party transactions;
  • enterprises should not be permitted to initially measure related party financial instruments at fair value; and
  • enterprises should only be permitted to subsequently measure related party financial instruments at fair value when the instrument is an investment in equity instruments that are quoted in an active market.

The Board members considered a communication plan for the forthcoming exposure draft and decided on its outreach activities with stakeholders.

The Board directed staff to begin the balloting process for the proposals and plans to issue the exposure draft no later than October 31, 2017.

Review the Executive Summary on the AcSB's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.