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Not for Profit

By | 2 Minutes Read

Charities, not-for-profits and the Income Tax Act: recent developments

I recently read a couple of articles dealing with the relationship between not-for-profit organizations and the Canada Revenue Agency, particularly with respect to fraudulent charitable tax receipts and what non-profits can do about accidental profits.

By | 2 Minutes Read

Exposure draft of new accounting standards for NPOs

Now that the financial reporting standards for public companies and private enterprises have been settled, the Accounting Standards Board is turning its attention to not-for-profits. The board's objective is to ensure that accounting standards for not-for-profit organizations "are responsive to the diverse nature of the sector, allow for comparability between the private and public sectors and provide decision-useful financial statements for the multiple and varied users of these statements."

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