Regulatory Alerts2023-06-09
Policy Statement to Regulation 52-107 respecting Acceptable Accounting Principles and Auditing Standards
The securities regulatory authorities issued this Policy Statement to provide guidance on the interpretation and application of Regulation 52-107 respecting Acceptable Accounting Principles and Auditing Standards. It clarifies the interaction with other regulations, including those for continuous disclosure and foreign issuers, and details requirements for financial statements, auditor's reports, and the use of International Financial Reporting Standards (IFRS) or Canadian Generally Accepted Accounting Principles (GAAP). The statement also addresses multijurisdictional disclosure, the calculation of Canadian resident ownership, electronic filing via SEDAR+, and specific conditions for acquisition statements, while noting its non-application to investment funds covered by Regulation 81-106.