(September 29 – 13:20 ET) – The
Canadian Institute of Chartered
Accountants today released the
first-ever accounting standard
on how governments should account
and report activities conducted
through government partnerships.
“Governments are increasingly
entering into collaborative
arrangements with other governments
and private sector entities,
and guidance is needed on how
such activities should be
reported,” says Jim Peters,
chair of CICA’s Task Force on
Government Partnerships.
“The recommended standard
provides guidance specifically
tailored to government
partnerships, including those
that engage in business activities,
and shows how capital assets
invested in a government
partnership should be accounted
for and reported.”
IE Staff
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