The accounting treatment for P3 projects will be in accordance with the accounting policies and reporting practices of GOA, which follow the recommendations of the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants.
The accounting treatment for P3s will:
• Be open and transparent;
• Promote accountability by providing information to assess the Government's use of resources and its financial position; and
• Follow the nature of the transaction. The intent is to capitalize all P3 transactions that meet the criteria for treatment as a capital lease.