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Location: Toronto
On June 26, 2015, the Public Sector Accounting Board released an executive summary of discussions and decisions with respect to the topics addressed at this meeting.
The following topics were discussed:
Review the executive summary.
At its meeting on June 18-19, 2015, the Public Sector Accounting Board approved, in principle, an exposure draft proposing withdrawal of Section PS 4260, Disclosure of Related Party Transactions by Not-for-Profit Organizations and amendments to the transitional provisions in Section PS 2200, Related Party Disclosures for not-for-profit organizations applying the PSA Handbook including the PS 4200 series. The Board also discussed a project plan to improve standards for not-for-profit organizations.
At its meeting on June 18-19, 2015, the Public Sector Accounting Board approved, in principle, an exposure draft proposing withdrawal of Section PS 4260, Disclosure of Related Party Transactions by Not-for-Profit Organizations and amendments to the transitional provisions in Section PS 2200, Related Party Disclosures for not-for-profit organizations applying the PSA Handbook including the PS 4200 series.
The Board also discussed a project plan to improve standards for not-for-profit organizations.
The Board also considered whether Section PS 3410 should be amended to clarify the issue of appropriation authority. The Board discussed the issue and will consider the appropriate next steps at a future meeting.
The Board also considered whether Section PS 3410 should be amended to clarify the issue of appropriation authority. The Board discussed the issue and will consider the appropriate next steps at a future meeting.
At its meeting on June 18-19, 2015, the Public Sector Accounting Board approved an amendment to the transitional provisions in Section PS 2601, Foreign Currency Translation and Section PS 3450, Financial Instruments to extend the effective date to April 1, 2019 from April 1, 2016. The Board deferred considering amendments proposed in the October 2014 Exposure Draft, Financial Instruments: Transition, until a later date.
At its meeting on June 18-19, 2015, the Public Sector Accounting Board approved an amendment to the transitional provisions in Section PS 2601, Foreign Currency Translation and Section PS 3450, Financial Instruments to extend the effective date to April 1, 2019 from April 1, 2016. The Board deferred considering amendments proposed in the October 2014 Exposure Draft, Financial Instruments: Transition, until a later date.