Section 4460 - Disclosure of related party transactions by not-for-profit organizations

Effective date:

January 1, 2012

Published by the AcSB:

December 2010

Overview

This Section establishes disclosure standards for related party transactions in the financial statements of not-for-profit organizations. The measurement of related party transactions is not dealt with in this Section.

History of Section 4460

Date

Development

Comments

December 2010

Part III of the CPA Canada Handbook  issued

Effective for fiscal years beginning on or after January 1, 2012. Earlier application permitted.

De­cem­ber 2018

Amendment

This Section has been amended to clarify that a not-for-profit organization applies Section 3856, Financial Instruments, in Part II of the Handbook, for the accounting and disclosure of financial instruments in a related party transaction. The amendment is ef­fec­tive for fis­cal years be­gin­ning on or af­ter Jan­u­ary 1, 2020. Ear­lier ap­pli­ca­tion per­mit­ted.

August 2020

Amendment

As a re­sult of the im­pact of the Covid-19 pan­demic, the AcSB de­cided to de­fer the ef­fec­tive date of the December 2018 amendment to Section 4460 by one year to fis­cal years be­gin­ning on or af­ter Jan­u­ary 1, 2021. Ear­lier ap­pli­ca­tion con­tin­ues to be per­mit­ted.

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

 

Not-for-Profit Advisory Committee meetings

Amendments under consideration

  • None

 

Correction list for hyphenation

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