Related Party Combinations – AcSB

Date recorded:

At its meeting on June 22-23, 2022, the AcSB received an update on its Private Enterprise Advisory Committee feedback on the issues to prioritize in the Related Party Combinations project. The Board also considered whether a phased approach should be used to advance the project. The AcSB discussed the staff proposals to address the items identified as a high priority. This included revisiting the requirement in Related Party Transactions, paragraph 3840.44(b), to retroactively restate comparatives and removing the reference to the “exchange amount” in paragraph 3840.44(a) to clarify that business combinations under common control would only be subject to requirements in Section 1582, Business Combinations. The Board agreed to proceed to project proposal, which will be discussed at its September 2022 meeting.

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

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