ASPE Clause Samples
The ASPE clause refers to the use of Accounting Standards for Private Enterprises, which are a set of Canadian accounting principles specifically designed for private companies. This clause typically specifies that financial statements or reports prepared under a contract must comply with ASPE, ensuring consistency and comparability for parties relying on such documents. By mandating the use of ASPE, the clause provides clarity on the accounting framework to be used, reducing ambiguity and potential disputes over financial reporting standards.
POPULAR SAMPLE Copied 9 times
ASPE. Wherever in this Agreement reference is made to a calculation to be made or financial statements to be prepared in accordance with ASPE, the reference is to Canadian accounting standards for private enterprises under Part II of the CICA Handbook of the Canadian Institute of Chartered Accountants, as amended at any time, applicable as at the date on which the calculation is made or required to be made in accordance with ASPE.