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On the eve of the clause-by-clause consideration
of Bill 16, which deals with, among
other things, divided co-ownership, the
Order has asked parliamentarians to lay
the groundwork for a comprehensive reform
of co-ownership by drawing on the expertise
from the various disciplines concerned whose
core focus is the protection of the public.
Although the bill is a step in the right
direction, the issues of co-ownership financial
reporting and management oversight are still
unaddressed, as the lack of a competent
authority in the area of co-ownership remains
a major shortcoming. Nearly one in three
Quebecers is a co-owner. Now, more than
ever, is the time to give co-owners the
means to protect their real estate asset —
which is more often than not their main
financial asset.
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Elections to the board of the Order: Candidates
for the election
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Abitibi-Témiscamingue – Nord-du-Québec:
Jean-Philippe Allard, Alain Tremblay
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Capitale-Nationale – Chaudière-Appalaches:
Lise Roberge, Christine Roy
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Montreal: Emilio Boulianne, Pierre G.
Brodeur, Pasquale Di Lillo
Members who are eligible to vote will receive
an email next week with all the information
needed for e-voting, which will take place
from June 10 to 19.
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My Account for professional representatives:
New enhancements by Revenu Québec
You can now more easily manage authorizations
and powers of attorney, among other things,
on the My Account homepage.
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Introduction to accounting for cryptocurrencies
under ASPE
Want to find out more about cryptocurrencies,
the possible approaches to accounting for
them under ASPE and the tax implications
they involve?
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Accounting for retractable or redeemable
shares – ASPE briefing
CPA Canada has compiled the key changes
resulting from the amendments to Section 3856,
Financial Instruments, regarding
retractable or mandatorily redeemable shares
issued in a tax planning arrangement.
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Project to revise ASPE related to revenue
recognition
The AcSB has proposed amendments to Section 3400,
Revenue, and invites you to submit
your comments by July 31.
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Employee future benefits under ASPE –
Use of a funding valuation — Stabilization
provision
The AcSB has been busy clarifying its intent
regarding the stabilization provision established
in 2016 by Retraite Québec for private
sector plans.
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Results of the Government Not-for-Profit
Consultations and Invitation to Comment
The consultation paper sets out three main
concerns: diversity in financial reporting
practices, financial statement presentation
and endowment contributions. PSAB is requesting
your input by September 30 that will
guide it in determining its next steps relating
to the GNFP Strategy.
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Review of PSAB’s approach to international
public sector accounting standards
PSAB has published a second Consultation
Paper which summarizes the feedback received
on the different options and decision-making
criteria outlined in the first consultation
on the international strategy in 2018.
In your opinion, which option best meets
the Canadian public interest? Provide your
feedback by September 30.
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