ASPE Snapshot: ASPE 1625 Comprehensive Revaluation of Assets and Liabilities

Category: ASPE

ASPE Snapshot: ASPE 1625 Comprehensive Revaluation of Assets and Liabilities


  • Applies to the comprehensive revaluation of assets and liabilities by profit-oriented entity to establish a new cost basis.
  • Does NOT apply to:
    • Accounting by a joint arrangement for capital contributions to the joint arrangement.
    • Debt issuance based on asset appraisals.
    • Spin-off transaction to shareholder.
    • Change in operations or line of business.
    • Transactions in equity interests when an entity is a joint venture.

ASPE 1625 Comprehensive Revaluation of Assets and Liabilities

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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.