Alert: CPA Canada Accounting Standards for Private Enterprises (ASPE) Briefings

Category: ASPE

Alert: CPA Canada Accounting Standards for Private Enterprises (ASPE) Briefings

Chartered Professional Accountants of Canada (“CPA Canada”) issues ASPE Briefings to provide application guidance related to accounting standards set out in the CPA Canada Handbook – Accounting: Part II Accounting Standards for Private Enterprises. ASPE Briefings are non-authoritative publications; they are not approved by any Board or Committee of CPA Canada and are not issued under the authority of the Accounting Standards Board.

The following ASPE Briefings have been released:

  • Section 3041 Agriculture (click here to download)
    • Discusses ASPE 3041, Agriculture issued in November 2019
  • Retractable or Mandatorily Redeemable Shares Issued in a Tax Planning Arrangement (click here to download)
    • Highlights key changes resulting from the amendments to Section 3856 Financial Instruments related to retractable or mandatorily redeemable shares issued in a tax planning arrangement.
  • Amalgamations of Wholly-owned Enterprises (click here to download)
    • Clarifies the accounting for amalgamations of wholly-owned subsidiaries that meet the definition of a business through the application of ASPE 3840 Related Party Transactions and other relevant standards
  • A New Light on Accounting for Investments (click here to download)
    • Discusses the accounting for investments under the following standards:
      • New ASPE 1591 Subsidiaries
      • Amended ASPE 3051 Investments
      • New ASPE 3056 Interests in Joint Arrangements
  • Section 3462 Employee Future Benefits: A Focus on Defined Benefit Plans (click here to download)
    • Focuses on the application of ASPE 3462 Employee Future Benefits related to defined benefit plans


This communication contains a general overview of the topic and is current as of February 3, 2020. The application of the principles addressed will depend upon the particular facts and circumstances of each individual case. Accordingly, this publication is not a substitute for professional advice and we recommend that any decisions you take about the application or not of any of the information presented be made in consultation with a qualified professional, who can address any variance that may be required to reflect your circumstances. Please contact your local MNP representative for customized assistance with the application of this material. MNP LLP accepts no responsibility or liability for any loss related to any person's use of or reliance upon this material. © MNP LLP 2020. All rights reserved.

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Michelle Balmer

Michelle Balmer CPA, CA

Vice President, Assurance

Michelle Balmer, CPA, CA, is a Senior Assurance Services Partner with MNP. With 14 years of experience in public practice, Michelle helps a broad range of public and privately held companies in a variety of industries. She also works on special projects, including costing studies, benchmarking and best-practice studies, operational analyses, litigation support and due diligence.

As a key member of MNP's Assurance team, Michelle has played an instrumental role in assurance policy development, implementing accounting and assurance standards firm-wide and educating assurance practitioners regarding methodologies and new pronouncements. She also provides technical advice and consultation on accounting and assurance issues, as well as on rules of professional conduct issues, to all MNP practitioners.

Michelle was certified a Chartered Accountant (CA) after obtaining a Bachelor of Commerce degree from the University of Alberta. She has been actively involved with the Institute of Chartered Accountants of Alberta, including the Chartered Accountants School of Business, in an instructional and marketing capacity. An avid volunteer, she has assisted numerous groups such as the Easter Seals of Alberta, Paralympic Sports Association and Junior Achievement of Northern Alberta.