Publicly accountable enterprises (PAEs)

Publicly accountable enterprises (PAEs) must use International Financial Reporting Standards (IFRS) in the preparation of all interim and annual financial statements. Generally speaking, a PAE is an entity that either:

  1. has issued, or is in a process of issuing, debt or equity instruments that are, or will be, outstanding and traded in a public market (including a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets)
  2. holds assets in a fiduciary capacity for a broad group of outsiders as one of its primary businesses

Banks, credit unions, insurance companies, securities brokers/dealers, mutual funds and investment banks typically meet the second of these criteria.


The Canadian Accounting Standards Board (AcSB) has established a specific set of accounting principles for pension plans.

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