Translation of "Périmètre comptable du gouvernement " (French → English) :

Accountability improvements that increase government control may raise the question of consolidation within the accounting entity under the accounting standards set by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants.

the relevant asset perimeter; the participation perimeter; considerations on the asset-size threshold; asset valuation rules; the appropriate capital structure; and the governance and operations of the AMC.

There would be distinct benefits for public-sector management and governance in adopting a single set of accruals-based accounting standards at all levels of government throughout the EU.

Counterparties should be considered to be included in the same consolidation at least where they are both included in a consolidation in accordance with Council Directive 83/349/EEC or International Financial Reporting Standards (IFRS) adopted pursuant to Regulation (EC) No 1606/2002 of the European Parliament and of the Council or, in relation to a group the parent undertaking of which has its head office in a third country, in accordance with generally accepted accounting principles of a third country determined to be equivalent to IFRS in accordance with Commission Regulation (EC) No 1569/2007 (or accounting standards of a third country the use of which is permitted in accordance with Article 4 of Regulation (EC) No 1569/2007), or where ...[+++]they are both covered by the same consolidated supervision in accordance with Directive 2006/48/EC or with Directive 2006/49/EC of the European Parliament and of the Council or, in relation to a group the parent undertaking of which has its head office in a third country, the same consolidated supervision by a third country competent authority verified as equivalent to that governed by the principles laid down in Article 143 of Directive 2006/48/EC or in Article 2 of Directive 2006/49/EC.

[Translation] The government is currently assessing the new accounting standard within the Government of Canada reporting entity, in order to determine whether foundations are meeting the new criteria.

Method 1 (Accounting consolidation) shall only be applied if the competent authority is confident about the level of integrated management and internal control regarding the entities which would be included in the scope of consolidation.