5. Entities that made payments in a currency other than the Canadian currency must, if they wish to convert the value of the payments in Canadian currency in their statement, use one of the following methods:
(1) the rate of exchange on the date on which the payment is made;
(2) the average rate of exchange for the period, not exceeding 12 months;
(3) the rate of exchange in force at the end of the entity’s fiscal year;
(4) the method provided for in the entity’s financial statements.
Entities must include a note in their statement indicating the method and rate of exchange used to convert the currency.
710-2017O.C. 710-2017, s. 5.