These legacy liabilities are the result of decades of significant contributions and advancements in nuclear science which have benefitted Canadians and the world, including the development of the CANDU technology and the production of medical isotopes which are used in the diagnostic and treatment of cancer and other diseases. [...] AECL is now focused on the decontamination and decommissioning of redundant structures and buildings, the remediation of contaminated lands, and the management and disposal of radioactive waste at AECL sites, primarily at the Chalk River Laboratories and the Whiteshell Laboratories in Manitoba. [...] 17 Atomic Energy of Canada Limited | 2023-24 Third Quarter Financial Report | Unaudited Decommissioning, waste management and contaminated sites expenses in the third quarter of 2023- 24 are significantly higher than the same period in 2022-23 due to the significant decrease in discount rate recorded in the current quarter, as a result of the adoption of the PSAS ARO standard and the requirement t. [...] AECL was incorporated in 1952 under the provisions of the Canada Corporations Act (and continued in 1977 under the provisions of the Canada Business Corporations Act), pursuant to the authority and powers of the Minister of Natural Resources under the Nuclear Energy Act. [...] Measurement Uncertainty The preparation of the quarterly financial statements in accordance with PSAS requires management to make estimates and assumptions that affect the reported amounts of financial assets, liabilities and non-financial assets at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period.
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