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News from the Canada Revenue Agency UPDATED February 4, 2019
Public Practice - Key Dates for 2018/19
Pension Plan Accounting
The Accounting Standards Board (AcSB) is interested in member views on Part IV – Accounting Standards for Pension Plans. As part of the AcSB’s annual plan, the board and its staff monitors Part IV to understand whether members are facing any implementation challenges.

Katharine Christopoulos, Senior Principal, Accounting Standards Board, will be in Vancouver on March 7, 2019 and would be interested in meeting members with views on the topic. If you are able to join Katharine for this informal meeting, please email: kchristopoulos@acsbcanada.ca or call 416-204-3270.

Date: Thursday, March 7, 2019
Time: 8 to 9 a.m.
Location: CPABC Office, 8th floor, 555 West Hastings Street, Vancouver
Register: kchristopoulos@acsbcanada.ca
Open forum discussion with Accounting Standards Board on March 6, 3 to 5pm
The Accounting Standards Board (AcSB) wants to hear from you! They are seeking your feedback on their current standard-setting activities affecting private enterprises and not-for-profit organizations.

Date and time: Wednesday, March 6, 2019, from 3:00 to 5:00 p.m.
Location: CPABC office, 8th floor, Harbour Centre, 555 West Hastings Street, Vancouver
Registration: https://www.frascanada.ca/en/acsb/meetings-and-events/vancouver-2019

The Board wants to talk about:
- What are the financial reporting needs of private enterprises and not-for-profit organizations? How do those needs change as they grow?
- What are the types of related party combinations undertaken by private enterprises? What are the challenges with accounting for these transactions using Section 3840, Related Party Transactions?
- What are the characteristics of a combination between unrelated private enterprises where acquisition accounting does not provide relevant financial information?
- What sources of guidance are private enterprises and not-for-profit organizations using when guidance for a transaction is not provided in Section 3400, Revenue?
- Section 4410, Contributions – Revenue Recognition: What are your views on key topics being addressed in the AcSB’s forthcoming Consultation Paper?
- What are your views on the proposed criteria for determining if a combination by a not-for-profit entity is a merger and the relevant accounting?
Your input is critical in helping AcSB determine the way forward on these topics affecting private enterprises and not-for-profit organizations.

Take advantage of this opportunity to provide your views directly to the AcSB in an open forum discussion. Register to share your views!
Register for CRA Dedicated Telephone Line
Great news for CPAs from the Canada Revenue Agency: a dedicated telephone service for income tax service providers!

The service is designed to help answer your questions on the interpretation of the Income Tax Act, with an agent assisting you through the guidance and technical information relevant to your questions about the Act.

This free service is intended not just CPA firms only, but for all small- to medium-sized professional tax service firms. Register today on the CRA website.
Be A Part of the Future
The CPA profession is going through unprecedented change and you can help shape its future by joining CPA Canada’s online conversation to share your views. Help reimagine the accounting profession by joining the CPA Canada Foresight movement. Read more about this comprehensive multi-stakeholder project on the CPA Canada website and get involved with the Foresight movement.
Toward a New Standard on Compilation Engagements
A new standard for Compilation Engagements has been proposed! The proposals would significantly change the communication attached to compiled financial information and could affect the way practitioners perform the engagement.

Take advantage of these resources to get informed:
- The Exposure Draft for CSRS 4200 Compilation Engagements was released on September 4, 2018. Download it from the FRAS Canada website.
- Register here to listen to a free webinar to learn more about the proposed standards and how you can provide input.

Public Practice News & Views Knowledge Base