A Review of CSA Consultation Paper 52-403: Auditor Oversight Issues in Foreign Jurisdictions

By | Timely Disclosure | July 14, 2017
On April 25, 2017, the Canadian Securities Administrators (CSA) published a consultation paper to obtain stakeholders’ views on introducing enhanced oversight requirements for foreign audit firms. Specifically, the paper discusses a proposal by the Canadian Public Accountability Board (CPAB) to amend National Instrument 52-108 Auditor Oversight (NI 52-108) to require foreign audit firms to register with CPAB as a Participating Audit Firm (PAF) should they be auditing a reporting issuers’ financial statements. View Full Post
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Rights Offering Prospectus Exemption – Warning for Reporting Issuers

By | Timely Disclosure | February 27, 2017
architecture-1048092_1280On January 12, 2017, the Canadian Securities Administrators (CSA) published Multilateral CSA Staff Notice 45-322 Potential Concerns with the Structure of Rights Offerings. The notice, issued on behalf of the securities regulators in Ontario, Quebec, Saskatchewan, Manitoba and Alberta, is a warning to issuers who may be perceived as taking improper advantage of the rights offering prospectus exemption available under section 2.1 of National Instrument 45-106 Prospectus Exemptions. View Full Post
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