Section 1591, Subsidiaries: Financial reporting alert

Learn about the new Section 1591, Subsidiaries, issued by the Accounting Standards Board in September 2014 to replace Section 1590, Subsidiaries.

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This Chartered Professional Accountants of Canada (CPA Canada) Financial Reporting Alert highlights the key changes from Section 1590 to Section 1591 and considers some possible business implications, discussing effects beyond accounting.

Topics include:

  • who Section 1591 applies to
  • key changes
  • disclosure and presentation requirements
  • transitional requirements
  • audit implications