Accounting and assurance standards – Related party transactions

Length: 3 h 30

New training for 2023-2024


Our corporate structures with management companies, companies under common control or interests in companies generate numerous related party transactions. These transactions are subject to the strict recognition rules of Section 3840 and involve several measurement issues.

Several pitfalls must be avoided, including the identification of related parties, transactions in the normal course of business and transactions outside the normal course of business, and finally, changes to Section 3856 Financial Instruments, which confuse the measurement basis and initial recognition.

For several years now, related party transactions have been the subject of recurring comments by professional inspection regarding recognition and presentation in financial statements.


Identify, understand and apply new accounting rules in financial reporting

  • Difficulty in identifying accounting related parties
  • Measurement of financial assets and liabilities between related parties
    • In connection with Section 3856 Financial Instruments
  • Transactions in the normal course of business and not in the normal course of operations
  • Changes in ownership interest
  • Independent evidence of fair value
  • Commercial substance of transactions
  • Book value versus exchange value
  • Disclosures and notes to financial statements
  • Particularities of related parties for NPOs
  • Documentation for review engagement files and audit files

Last but not least

  • Presentation of the changes made to Paradigme Questionnaires
  • Practical examples:
    • Identifying related and unrelated parties
    • Measuring financial assets and liabilities between related parties
    • Illustrate the various criteria provided in the decision tree
    • Examples of situations that may require an adjustment to the financial statements
    • Examples of notes to the financial statements
  • Discussion with participants


Please contact André Mignault at 514-686-7341 to schedule your training.

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