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AcG-15 Consolidation of variable interest entities

Effective date:

January 1, 2011, except for subsequent amendments

Published by the AcSB:

December 2009



This Guideline presents the views of the Accounting Standards Board on the application of consolidation principles to certain entities that are subject to control on a basis other than ownership of voting interests. The purpose of the Guideline is to provide guidance for when an enterprise includes the assets, liabilities and results of activities of such an entity (a "variable interest entity") in its consolidated financial statements. An entity that elects not to consolidate its subsidiaries is exempt from this Guideline. Where the entity elects to account for its subsidiaries using the cost or equity method, it accounts for all of its interests in accordance with other sources of GAAP as if this Guideline did not exist.

History of AcG-15




December 2009

Part II of the CPA Canada Handbook  issued

Effective for fiscal years beginning on or after January 1, 2011.

September 2014

Guideline replaced

In September 2014, this Guideline was archived along with Section 1590 Subsidiaries. They were replaced by Section 1591 Subsidiaries, which applies to annual financial statements relating to fiscal years beginning on or after January 1, 2016. Earlier application is permitted.


Note: The above summary does not include details of consequential amendments made as the result of other projects.

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.