Regulatory Alerts2023-06-09
Policy Statement to Regulation 52-112 Respecting Non-GAAP and Other Financial Measures Disclosure
The provincial and territorial regulatory authorities issued this policy statement to explain the interpretation and application of Regulation 52-112 regarding the disclosure of non-GAAP and other specified financial measures. The document defines key terms such as non-GAAP financial measures, supplementary financial measures, and primary financial statements, while clarifying exclusions for non-financial information and specific industry metrics. It further outlines the scope of application for reporting and non-reporting issuers, addressing disclosures on websites and social media, pro forma statements, and measures derived from third-party reports or financial covenants.
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