Annual Report 2024-25

The Association of Professional Engineers and Geoscientists of the Province of British Columbia Notes to Non-consolidated Financial Statements June 30, 2025

1 Mandate

The Association of Professional Engineers and Geoscientists of the Province of British Columbia doing business as Engineers and Geoscientists British Columbia (the Organization) is incorporated under the provisions of the Professional Governance Act. The Organization’s mandate is to protect public safety, health and well-being through the application of engineering and geoscience, as well as to ensure the responsible self-governance and vitality of the professions.

The Organization is a tax exempt organization as described in the Income Tax Act (Canada) and as such is exempt from federal and provincial income taxes.

2 Significant accounting policies

These non-consolidated financial statements include the financial activities of the Organization exclusive of the net assets of Engineers and Geoscientists BC Foundation and registrant-supported branches and divisions (note 12).

Basis of accounting

The non-consolidated financial statements have been prepared in accordance with Canadian accounting standards for not-for-profit organizations (ASNPO).

Adoption of Accounting Guideline AcG-20, Customer’s accounting for cloud computing arrangements

Effective January 1, 2024, the Organization has adopted the requirements of AcG-20, Customer’s accounting for cloud computing arrangements. The Organization has applied the requirements retrospectively and the adoption of this policy did not result in any prior year adjustments. The Organization has applied the simplification approach, as permitted by Accounting Guideline AcG-20, Customer’s accounting for cloud computing arrangements, in accounting for its cloud computing arrangements. The total amount expensed in respect of the arrangement was $581,924 (2024 – $453,473) and was included in IT and telecommunication expenses in the non-consolidated statement of revenue and expenses.

Net assets

The Organization defines its capital as the amount included in its net asset balances. The Organization’s objective when managing capital is to safeguard its ability to continue as a going concern so that it can continue to fulfill its mandate as described in note 1. While there are no external restrictions on any of the net assets, the Board has appropriated certain of the funds for specific purposes as described in the note below.

(1)