February
Project
Financial Performance Standards Revision
Background
The project to amend the FMB’s Financial Performance Standards began in 2016. It was completed on February 22, 2018 with the approval of the new C2 – Financial Performance Standards.
The FMB improves its Standards to make sure they continue to meet the needs of First Nations and other First Nations Institutions. The changes take into account feedback from First Nations and the FMB’s experience.
The changes are made to reflect the current accounting standards and to measure against generally accepted credit rating practices used by the capital market. They should also provide even more ways for First Nations to access any needed financing for projects that improve their economies.
Download the Exposure Draft (PDF) to see the proposed changes to these Standards.
Details
- These are the biggest changes to the Standards since September 2010. They bring in new financial performance ratios and take out others.
- After considering feedback received during the comment period, the FMB approved the final standards in February 2018.
- Download the Basis for Conclusion (PDF) to see why changes were made.
Deliverable
8th Edition of Financial Performance Standards