Canada: Technical Bulletin: October 2015 Part 1


International Financial Reporting Standards (IFRS)

Pronouncement effective for annual periods beginning on or after January 1, 2015

Entities with rate-regulated activities
Mandatory date for first-time adoption of IFRS by entities with rate-regulated activities - fiscal years beginning on or after January 1, 2015.

Pronouncements effective for annual periods beginning on or after January 1, 2016

IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures
These standards were amended to eliminate an inconsistency between IFRS 10 and IAS 28 in dealing with the sale or contribution of assets between an investor and its associate or joint venture. Subsequent to the amendments, a full gain or loss is recognized when a transaction involves a business (whether it is housed in a subsidiary or not) and a partial gain or loss is recognized when a transaction involves assets that do not constitute a business, even if these assets are housed in a subsidiary.

An Exposure Draft, discussed in the "Recently issued documents for comment" section below, was issued by the IASB in July 2015 proposing to defer the effective date.

IFRS 10 Consolidated Financial Statements, IFRS 12 Disclosure of Interests in Other Entities and IAS 28 Investments in Associates and Joint Ventures
These standards were amended to clarify the application of the requirement for investment entities to measure subsidiaries at fair value instead of consolidating them.

IFRS 11 Joint Arrangements
Amendments add new guidance on how to account for the acquisition of an interest in a joint operation that constitutes a business.

IFRS 14 Regulatory Deferral Accounts
This interim standard permits first-time adopters to continue to recognize amounts related to rate regulation in accordance with previous GAAP requirements when they adopt IFRS. However, to enhance comparability with entities that already apply IFRS and do not recognize such amounts, the standard requires that the effect of rate regulation must be presented separately from other items. An entity that already presents IFRS financial statements is not eligible to apply the Standard. Earlier application is permitted.

IAS 1 Presentation of Financial Statements
Amendments are designed to further encourage companies to apply professional judgement in determining what information to disclose in their financial statements. For example, the amendments make clear that materiality applies to the whole of financial statements and that the inclusion of immaterial information can inhibit the usefulness of financial disclosures. Furthermore, the amendments clarify that companies should use professional judgement in determining where and in what order information is presented in the financial disclosures.

IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets
Amendments clarify that the use of revenue-based methods to calculate the depreciation of an asset are not appropriate because revenue generated by an activity that includes the use of an asset generally reflects factors other than the consumption of the economic benefits embodied in the asset. The IASB also clarified that revenue is generally presumed to be an inappropriate basis for measuring the consumption of the economic benefits embodied in an intangible asset. This presumption, however, can be rebutted in certain limited circumstances.

IAS 16 Property, Plant and Equipment and IAS 41 Agriculture
These standards were amended to require bearer plants to be accounted for in the same way as property, plant and equipment in IAS 16 because their operation is similar to that of manufacturing. Bearer plants are used solely to grow produce over several periods. At the end of their productive lives they are usually scrapped. Once a bearer plant is mature, apart from bearing produce, its biological transformation is no longer significant in generating future economic benefits. The only significant future economic benefits it generates come from the agricultural produce it creates. The amendments include bearer plants within the scope of IAS 16 instead of IAS 41. The produce growing on bearer plants will remain within the scope of IAS 41.

IAS 27 Separate Financial Statements
The standard was amended to allow entities to use the equity method to account for investments in subsidiaries, joint ventures and associates in their separate financial statements.

Annual Improvements 2012-2014 Cycle

IFRS 5 Non-current Assets Held for Sale and Discontinued Operations

Amendment stating that the same classification, presentation and measurement requirements continue to apply if there is a reclassification from being held for distribution to being held for sale or vice versa.

IFRS 7 Financial Instruments: Disclosures

Clarification regarding servicing contracts and assessment of 'continuing involvement'. Clarification on applicability of disclosure requirements in amendments to IFRS7 regarding Offsetting Financial Assets and
Financial Liabilities.

IAS 19 Employee Benefits

Clarification regarding the currency of bonds used in the estimate of the discount rate for post-employment
benefit obligations.

IAS 34 Interim Financial Reporting

Additional requirement to cross-reference the information disclosed 'elsewhere in the interim financial report'

Pronouncements effective for annual periods beginning on or afterJanuary 1, 2018

IFRS 15 Revenue from Contracts with Customers
The core principle of the new standard is for companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard contains enhanced disclosures about revenue, provides guidance for transactions that were not previously addressed comprehensively (for example, service revenue and contract modifications) and improves guidance for multiple-element arrangements. IFRS 15 supersedes the following standards: IAS 11 Construction Contracts, IAS 18 Revenue, IFRIC 13 Customer Loyalty Programmes, IFRIC 15 Agreements for the Construction of Real Estate, IFRIC 18 Transfers of Assets from Customers, and SIC-31 Revenue—Barter Transactions Involving Advertising Services.

IFRS 9 Financial Instruments
This new standard replaces the requirements in IAS 39 Financial Instruments: Recognition and Measurement for classification and measurement of financial assets. IFRS 9 is built on a logical, single classification and measurement approach for financial assets that reflects the business model in which they are managed and their cash flow characteristics. IFRS 9 also incorporates requirements for financial liabilities, most of which were carried forward unchanged from IAS 39. Certain changes were made to the fair value option for financial liabilities to address the issue of own credit risk. IFRS 9 removes the volatility in profit or loss caused by changes to the credit risk of liabilities elected to be measured at fair value. Requirements related to hedge accounting, representing a new hedge accounting model, have been added to IFRS 9. The new model represents a substantial overhaul of hedge accounting, which will allow entities to better reflect their risk management activities in financial statements. The most significant improvements apply to those that hedge non-financial risk, so these improvements are expected to be of particular interest to non-financial institutions. In addition, a single, forward-looking expected loss impairment model is introduced, which will require more timely recognition of expected credit losses.

Recently issued documents for comment

Effective Date of Amendments to IFRS 10 and IAS 28
The IASB issued this ED in July 2015 to propose deferring indefinitely the effective date of the amendment issued in September 2014 to IFRS 10 and IAS 28 relating to the sale or contribution of assets between an investor and it associate or joint venture. The proposal to defer the effective date is due to a research project undertaken by the IASB on the equity method of accounting.

Comment period ends on October 9, 2015.

Clarifications to IFRS 15
The IASB published the ED in July 2015, proposing clarifications to and transition reliefs for IFRS 15, stemming from discussions at meetings of the Transition Resource Group (TRG), which was set up to support companies in implementing the new revenue standard.

The ED proposes to clarify:

  • How to identify the performance obligations in a contract,
  • How to determine whether a party involved in a transaction is the principal (responsible for providing the goods or services) or the agent (responsible for arranging for the goods or services to be provided to the customer), and
  • How to determine whether a licence provides the customer with a right to access or a right to use the entity's intellectual property.

In addition, the IASB proposes transition relief for:

  • Modified contracts (modifications to a contract that occurred before transition to the new standard)
  • Completed contracts (for entities electing to use the full retrospective transition method, accounting for a contract completed under previous standards before transition to the new standard)

Comment period ends on October 28, 2015.

Current status of documents previously issued for comment

Insurance Contracts

ED issued by the IASB in June 2013.

Final standard is expected to be issued in 2016.

Project aimed at improving comparability through a coherent, principles-based framework and one accounting model for all types of insurance contracts and increase transparency.


The IASB expects to issue the new standard in the second half of 2015.

The objective of the project is to develop a new standard that establishes the principles that entities would apply to report useful information about the amount, timing and uncertainty of cash flows arising from a lease. To meet that objective, a lessee should recognise assets and liabilities arising from a lease.

Recognition of Deferred Tax Assets for Unrealised Losses (Proposed amendments toIAS 12)

ED issued by the IASB in August 2014. Currently in deliberations.

ED clarifies how to account for deferred tax assets related to debt instruments measured at fair value.

Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value (Proposed amendments to IFRS 10, IFRS 12, IAS 27, IAS 28 and IAS 36 and Illustrative Examples for IFRS 13)

ED issued by the IASB in September 2014. Currently in deliberations.

ED clarifies that an entity should measure the fair value of quoted investments and quoted CGUs as the product of the quoted price for the individual financial instruments that make up the investments held by the entity and the quantity of financial instruments. Currently in deliberations.

Reporting the Financial Effects of Rate Regulation

Discussion Paper issued by the IASB in September 2014. Currently in discussions.

This DP considers the common features of rate regulation and explores which of them, if any, creates a combination of rights and obligations that is distinguishable from the rights and obligations arising from activities that are not rate-regulated.

Accounting for Dynamic Risk Management: a Portfolio Revaluation Approach to Macro Hedging

Discussion Paper issued by the IASB in April 2014. Currently in deliberations.

The DP explores a possible approach (portfolio revaluation approach) to better reflect dynamic risk management activities in entities' financial statements.

Disclosure Initiative (Proposed amendments to IAS 7)

ED issued by the IASB in December 2014.

Comment period closed on April 17, 2015. Currently in deliberations.

Amendments proposed in this ED will require companies to provide a reconciliation between the opening and closing balances of liabilities and assets related to their financing activities and other non-cash changes (such as the effects of foreign exchange and changes in fair values), as well as disclose restrictions that affect management's decisions on how to use cash and cash equivalent balances.

Classification and Measurement of Share-based Payment Transactions (Proposed amendments to IFRS 2)

ED issued by the IASB in November 2014. Currently in deliberations.

The ED addresses the effects of vesting conditions on the measurement of a
"cash-settled share-based payment, classification of share-based payment transactions with net settlement features and accounting for a modification to the terms and conditions of a share-based payment, which changes the classification of the transaction from
cash-settled to equity-settled.

Classification of Liabilities (Proposed amendments to IAS 1)

ED issued by the IASB in February 2015.

Comment period closed on June 10, 2015. Currently in deliberations.

The goal is to improve presentation in financial statements by clarifying the criteria for the classification of a liability as either current or non-current, specifically clarifying that the classification of a liability as either current or non-current is based on the entity's rights at the end of the reporting period and making clear the link between the settlement of the liability and the outflow of resources from the entity.

Conceptual Framework

ED published by the IASB in May 2015.

Related EDUpdating References to the Conceptual Frameworkwas published by the IASB in May 2015.

Comment period for both EDs ends on November 25, 2015.

The proposal aims to provide a more complete, clear and updated set of concepts that can be used by the IASB when it develops IFRSs and others to help them understand and apply those standards.

The Updating References ED aims to provide transition to the revised Conceptual Framework.

Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 Employee Benefits and IFRIC 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements)

ED published by the IASB in June 2015.

Comment period ends on October 19, 2015.

When a defined benefit plan is amended, curtailed or settled during a reporting period, the entity needs to update assumptions about its obligation and fair value of its plan assets to calculate costs related to these changes. The proposed amendments to IAS 19 specify that the entity is required to use the updated information to determine current service cost and net interest for the period followed by these changes. The proposed amendments to IFRIC 14 address how the powers of other parties, such as the Trustees of the plan, affect an entity's right to a refund of a surplus from the plan.


Here are some resources that will assist in the application of the standards.

This series discusses views of the Oil and Gas Task Force and the Mining Task Force on IFRS application issues relevant to junior oil and gas companies and junior mining companies, respectively.

Recent issues: Reversal of Impairment Losses (Mining, July 2015) and Decommissioning Liabilities in a Business Combination (Oil & Gas, April 2015), Commodity Prices and Impairment (Oil & Gas, June 2015), Flow-Through Shares (Oil & Gas, May 2015), IFRS 11 and Direct Working Interests (Oil & Gas, May 2015)

IFRS Discussion Group Meeting Topics
Established by the AcSB, the IFRS Discussion Group implements and maintains a regular public forum to discuss issues that arise in Canada when applying IFRS. The Financial Reporting & Assurance Standards Canada website allows for topics and issues discussed by the IFRS Discussion Group to be searched and sorted. Find out whether the Group has discussed an issue that you face in applying IFRSs and get the meeting report extract and audio webcast for each issue you find.

Accounting Standards for Private Enterprises (ASPE)

Pronouncement effective for annual periods beginning on or after January 1, 2015

2014 Annual Improvements

Amendments to Section 3856 to clarify the accounting for a hedging item when a reporting period ends between the date the hedged transaction occurs and the date the hedging item matures and to clarify that disclosure of the carrying amount of impaired financial assets is required for financial assets other than current trade receivables.

Pronouncements effective for annual periods beginning on or after January 1, 2016

Subsidiaries, Section 1591
This new Section, which replaces Section 1590, Subsidiaries and AcG-15, Consolidation of Variable Interest Entities, requires the use of judgment to determine when control is obtained through means other than equity interests. The guidance on accounting for subsidiaries controlled through equity interests has been brought forward from the previous standard unchanged.

Investments, Section 3051
This Section has been amended to clarify: investments subject to significant influence and certain other non-financial instrument investments are included in the scope of the standard, whereas other investments (such as subsidiaries and interests in joint arrangements) are excluded.

Interests in Joint Arrangements, Section 3056
This new standard, which replaces Section 3055,
Interest in Joint Ventures, specifies the accounting by an investor for an interest in a joint arrangement according to whether it is an interest in jointly controlled operations, jointly controlled assets, or a jointly controlled enterprise. The option to account for all types of joint arrangements using the proportionate consolidation method, cost method or equity method is eliminated.

Recent publications

Post-implementation Review: Section 3856, Financial Instruments
The AcSB issued a Feedback Statement in September 2015 summarizing the input and feedback received from stakeholders with respect to the post-implementation review of Section 3856. While there was overall support for the principles and most of the requirements in the standard, concerns were raised with respect to:

  • Challenges in determining the initial measurement of some financial instruments,
  • Scope, initial and subsequent measurement of financial instruments issued between related parties, and
  • Usefulness of some risk and uncertainty disclosures.

The AcSB's next steps are to further analyze the feedback and decide if any amendments should be considered.

Subsidiaries and Investments
The AcSB issued this ED in September 2015, proposing to amend Section 1591, Subsidiaries and Section 3051, Investments, to clarify the accounting for a subsidiary and an investment subject to significant influence when the cost method is used. Comment period ends on January 6, 2016.

Current status of documents previously issued for comment

Redeemable PreferredShares Issued in a Tax Planning Arrangement

Amendment to Section 3856 Financial Instruments; ED issued by the AcSB in October 2014. Currently in deliberations.

In the ED, the proposed effective date was fiscal years beginning on or after January 1, 2016. However, due to the time needed to consider issues and comments raised during the comment period, the AcSB has decided that the effective date of any such change will be no earlier than January 1, 2018.

Amendment to remove the current exemption of classifying redeemable preferred shares issued in a tax planning arrangement as equity resulting in such shares being presented as liabilities, which would be more consistent with other financial liabilities.

2015 Annual Improvements

The amendments are expected to be issued in Q4 of 2015 and be effective for years beginning on or after January 1, 2016.

Amendment to Section 1582 - clarification that disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed (which is required when the subsidiary is consolidated) should also be required when a business combination is achieved through the acquisition of an asset or group of assets.

Amendments to Sections 3051 and 3065 - clarification that disclosure of the amount of any impairment loss or reversal of a previously recognized impairment loss is required.

Amendment to Section 3462 - clarification that the option to use a funding valuation can only be applied by entities that have at least one funded defined benefit plan.


Here are some resources that will assist in the application of the standards.

CPA Canada Reporting Alerts for ASPE
CPA Canada issues Reporting Alerts aimed at assisting companies in determining the impact of new and revised standards on their business. Reporting Alerts provide a summary of the standard, highlight significant items, summarize key changes and address common questions. The following alert has recently been issued: Section 1591, Subsidiaries.

Private Enterprise Advisory Committee
Established by the AcSB in 2010, the Committee assists the AcSB in maintaining and improving accounting standards for private enterprises and advises on the need for non-authoritative guidance about the standards. At the request of the AcSB, the Committee may also undertake research into the financial reporting needs of private enterprises.

Click here to access recent meeting notes.

Accounting Standards for Not-for-Profit Organizations (ASNPO)

In the works...

What's next for accounting standards for private sector not-for-profit organizations?
"Improvements to Not-for-Profit Standards" Statement of Principles was issued by the AcSB and PSAB in April 2013, presenting key principles that each Board expects to include in future exposure drafts, aimed at revising ASNPO and PSA Handbook in order to improve the existing standards for financial reporting by not-for-profit organizations (NFPOs). Since then, the AcSB has considered the feedback and reaffirmed its commitment to continue:

  • to maintain a separate set of standards for private sector not-for-profit organizations that addresses transactions and circumstances unique to such organizations;
  • with the improvements process to review the standards in Part III of the Handbook and update the standards as necessary; and
  • to work with PSAB, with the objective of achieving consistency between private and public sector standards for not-for-profit organizations when appropriate.

In May 2015, the AcSB approved the creation of a standing not-for-profit advisory committee to assist the AcSB with its standards improvements initiatives, as well as provide input on other standard-setting matters of interest to private sector not-for-profit organizations.

The AcSB also approved several projects to address all of the principles relating to private sector standards that were proposed in the Statement of Principles, with the first ED expected to be issued in 2016.

Public Sector Accounting (PSA)

Pronouncements effective for fiscal years beginning on or after April 1, 2016 (except for government organizations that applied CICA Handbook – Accounting prior to adoption of the CICA Public Sector Accounting Handbook, for which these pronouncements apply to fiscal years beginning on or after April 1, 2012)

Financial Statement Presentation, Section PS 1201
This section revises and replaces Financial Statement Presentation, Section PS 1200. The new standard introduces a new statement for reporting of remeasurement gains and losses.

Foreign Currency Translation, Section PS 2601
This section revises and replaces Foreign Currency Translations, Section PS 2600. Definition of currency risk is aligned with the new Financial Instruments Section, PS 3450. The new standard also removes certain previously available exceptions to measurement of items on initial recognition. The deferral and amortization of foreign exchange gains and losses relating to long-term foreign currency denominated monetary items, hedge accounting and presentation of items as synthetic instruments are removed. In addition, the new statement of remeasurement gains and losses introduced in Section PS 1201 is used to reflect exchange gains and losses until the period of settlement, rather than reflecting them in the statement of operations.

Portfolio Investments, Section PS 3041
This section replaces Section PS 3040, Portfolio Investments. In addition, Section PS 3030 is withdrawn as the distinction between temporary and portfolio investments is removed with the issue of Section PS 3041. The scope in the new standard is expanded to include interests in pooled investment funds, while requirement for application of cost method is removed. The new standard is also aligned with the new Financial Instrument Section, PS 3450.

Financial Instruments, Section PS 3450
This new Section establishes standards for recognizing and measuring financial assets, financial liabilities and non-financial derivatives. The standard introduces two measurement categories: fair value and cost or amortized cost. The statement of remeasurement gains and losses will reflect gains and losses arising on fair value remeasurement until an item is derecognized. The standard also introduces new disclosure requirements of items reported and the nature and extent of risks arising from financial instruments.

Pronouncements effective for fiscal years beginning on or after April 1, 2017

Related Party Disclosures, Section PS 2200
This new Section defines a related party and establishes disclosures required for related party transactions. Disclosure of information about related party transactions and the relationship underlying them is required when they have occurred at a value different from that which would have been arrived at if the parties were unrelated, and they have, or could have, a material financial effect on the financial statements.

Inter-entity Transactions, Section PS 3420
This new Section establishes standards on how to account for and report transactions between public sector entities that comprise a government's reporting entity from both a provider and recipient perspective.

Assets, Section PS 3210
This new Section provides guidance for applying the definition of assets set out in Section PS 1000, and establishes general disclosure standards for assets. Disclosure of information about the major categories of assets that are not recognized is required. When an asset is not recognized because a reasonable estimate of the amount involved cannot be made, the reason(s) for this should be disclosed.

Contingent assets, Section PS 3320
This new Section defines and establishes disclosure standards on contingent assets. Disclosure of information about contingent assets is required when the occurrence of the confirming future event is likely.

Contractual rights, Section PS 3380
This new Section defines and establishes disclosure standards on contractual rights. Disclosure of information about contractual rights is required including description about their nature and extent and the timing.

Pronouncements effective for fiscal years beginning on or after April 1, 2018

Restructuring transactions, Section PS 3430
This new Section defines a restructuring transaction as well as establishes standards for recognizing and measuring assets and liabilities transferred in a restructuring transaction. The main features of the new Section are:

  • A restructuring transaction is a transfer of an integrated set of assets and/or liabilities, together with related program or operating responsibilities without consideration based primarily on the fair value of the individual assets and individual liabilities transferred.
  • The net effect of a restructuring transaction should be recognized as revenue or as an expense by entities involved.
  • A recipient should recognize individual assets and liabilities received in a restructuring transaction at their carrying amount with applicable adjustments at the restructuring date.
  • A transferor and a recipient should not restate their financial position or results of operations.
  • A transferor and a recipient should disclose sufficient information to enable users to assess the nature and financial effects of a restructuring transaction on their financial position and operations.

Current status of documents previously issued for comment

Retirement Obligations

Statement of Principles

Issued by PSAB in August 2014. Currently in deliberations.

Exposure draft expected in Q2 of 2016.

Subject to comments received, the PSAB proposes to expose a proposed new section on retirement obligations associated with tangible capital assets controlled by a public sector entity.


Statement of Principles

Issued by the PSAB in August 2013. Currently in deliberations.

ED to be issued in Q2 of 2016.

PSAB proposes, subject to comments received, to expose a new Section on revenue. The Statement of Principles proposes definitions and principles applying to a broad range of revenues public sector entities report on. The proposals apply to exchange transactions involving the sale of goods or services and also cover other forms of revenue that do not involve an exchange, such as fines and penalties.

Improvements to Not-for-Profit Standards

Statement of Principles

Issued by the AcSB and PSAB in April 2013.

Refer to discussion on what's next for accounting standards for private sector not-for-profit organizations.

Presents key principles that each Board expects to include in future exposure drafts, aimed at revising ASNPO and PSA Handbook, including the PS 4200 series of Sections, in order to improve the existing standards for financial reporting by not-for-profit organizations (NFPOs).

Financial Instruments: Transition

ED issued by the PSAB in October 2014.

Comment period closed on January 15, 2015. Currently in deliberations.

Final amendments to be issued in Q4 2015.

Proposes to clarify aspects of the Section's scope of application, specifically, the receivables and payables that the Section does not apply to, and add transitional provisions and new guidance relating to certain specialized forms of agreements.

Post-Implementation Review: Section PS 3410, Government Transfers

Request for Information, issued by PSAB in November 2014.

Comment period closed on May 15, 2015. Currently in deliberations.

Now that stakeholders have had an opportunity to work through the issues related to Section PS 3410, PSAB is looking for comments on how those issues were dealt. Undertaking this post-implementation review will help PSAB assess any implementation challenges encountered by stakeholders, and the nature, extent and cause of any ongoing issues.

Conceptual Framework Fundamentals and theReporting Model

Consultation Paper 3, issued by the PSAB in March 2015.

Comment period ended on August 31, 2015.

Proposes a new reporting model and draft principles on public sector characteristics, financial statement objectives, qualitative characteristics, elements, recognition, measurement and presentation.

PSA Discussion Group Meeting Topics
Established by the PSAB, the PSA Discussion Group provides a public forum for discussion of issues arising on the application of the PSA Handbook. Summaries of topics and discussions from past meetings are available on the Financial Reporting & Assurance Standards Canada website.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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Surveys & Contests

From time-to-time our site requests information from users via surveys or contests. Participation in these surveys or contests is completely voluntary and the user therefore has a choice whether or not to disclose any information requested. Information requested may include contact information (such as name and delivery address), and demographic information (such as postcode, age level). Contact information will be used to notify the winners and award prizes. Survey information will be used for purposes of monitoring or improving the functionality of the site.


If a user elects to use our referral service for informing a friend about our site, we ask them for the friend’s name and email address. Mondaq stores this information and may contact the friend to invite them to register with Mondaq, but they will not be contacted more than once. The friend may contact Mondaq to request the removal of this information from our database.


This website takes every reasonable precaution to protect our users’ information. When users submit sensitive information via the website, your information is protected using firewalls and other security technology. If you have any questions about the security at our website, you can send an email to

Correcting/Updating Personal Information

If a user’s personally identifiable information changes (such as postcode), or if a user no longer desires our service, we will endeavour to provide a way to correct, update or remove that user’s personal data provided to us. This can usually be done at the “Your Profile” page or by sending an email to

Notification of Changes

If we decide to change our Terms & Conditions or Privacy Policy, we will post those changes on our site so our users are always aware of what information we collect, how we use it, and under what circumstances, if any, we disclose it. If at any point we decide to use personally identifiable information in a manner different from that stated at the time it was collected, we will notify users by way of an email. Users will have a choice as to whether or not we use their information in this different manner. We will use information in accordance with the privacy policy under which the information was collected.

How to contact Mondaq

You can contact us with comments or queries at

If for some reason you believe Mondaq Ltd. has not adhered to these principles, please notify us by e-mail at and we will use commercially reasonable efforts to determine and correct the problem promptly.