At its meeting on June 14, 2016, the Private Enterprise Advisory Committee (PEAC) discussed the feedback to the “Post-implementation Review of Section 3856, Financial Instruments”. It agreed to suggest to the AcSB that the following issues merit being added to the AcSB’s project plan and addressed through either a major project or a narrow-scope amendment: (i) issues associated with the following related parties items should be dealt with concurrently: (a) scope of accounting for related party financial assets and financial liabilities after initial recognition; (b) measuring related party compound financial instruments; (c) classification of impairment and forgiveness of related party loans; and (d) challenges in determining the carrying amount or exchange amount of newly issued related party financial instruments; (ii) classification of certain instruments as either equity or financial liabilities; and (iii) some disclosure requirements. The Committee also agreed to suggest to the AcSB that the following issues be researched further: (i) initial measurement of financial instruments with non-market conditions or uncertain cash flows; and (ii) determination of fair value for some financial assets (including mutual or pooled funds). The Committee noted that the latter issue is prevalent with not-for-profit organizations and, accordingly, suggested that it be raised with the Not-for-Profit Advisory Committee at its next meeting.