4-Heatherann is a CPA who has compiled a list of recent updates to accounting standards. Which of the following is a recent update that relates to ASPE?

Question options:

	The definition of a business has been amended in IFRS 3 Business Combinations.
	A new accounting standard, Section 3041 Agriculture, has been issued.
	The definition of material has been updated in IAS 1 Presentation of Financial Statements.
	Section 1590 Subsidiaries has been replaced by Section 1591.