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 |
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 |
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
- November 17, 2016 - Effective date of the proposals
- January 6, 2016 - Accounting Standards Improvements for NFPOs
Amendments under consideration
- None