52-109CP - Certification of Disclosure in Issuers’ Annual and Interim Filings [CP Amendment Proposed - Lapsed]
| Published Date: | 2009-09-25 |
|---|---|
| Rescinded Date: | 2011-01-01 |
| Document(s): |
Concurrently Published:
1. Companion Policy 52-109CP to National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings is amended.
2. Part 1 is amended by adding the following after section 1.4,
1.5 Accounting terms - The Instrument uses accounting terms that are defined, or referred to, in Canadian GAAP. In certain cases, some of those terms are defined differently in securities legislation. In deciding which meaning applies, you should consider that National Instrument 14-101 Definitions provides that a term used in the Instrument and defined in the securities statute of a local jurisdiction has the meaning given to it in the statute unless: (a) the definition in that statute is restricted to a specific portion of the statute that does not govern continuous disclosure; or (b) the context otherwise requires.
1.6 Acceptable accounting principles other than Canadian GAAP - If an issuer is permitted under NI 52-107 to file financial statements in accordance with acceptable accounting principles other than Canadian GAAP, then the issuer may interpret any reference in the Instrument to a term or provision defined, or referred to, in Canadian GAAP as a reference to the corresponding term or provision in the other acceptable accounting principles.
3. Section 4.1 is amended by
(a) in the title, striking out “results of operations” and substituting “financial performance”.
(b) striking out “results of operations” wherever it occurs and substituting “financial performance”.
4. Section 4.2 is amended by striking out “balance sheet” and substituting “statement of financial position”.
5. Section 6.10 is amended by
(a) in subsection (2),
(i) striking out “net sales” and substituting “net revenue”,
(ii) striking out “on the income statement”,
(iii) striking out “gross sales” wherever it occurs and substituting “gross revenue”, and
(iv) striking out “sales returns” and substituting “returns”.
(b) in subparagraph (3)(f), adding “conditions that will give rise to” after “the likelihood (or possibility) of”, and
(c) in subsection (4), by striking out “revenues” and substituting “revenue”.
6. Subsection 7.9(2) is amended by striking out “sales” and substituting “revenue”.
7. Section 13.1 is amended by
(a) in paragraph (b),
(i) striking out “variable interest entity” and substituting “special purpose entity”, and
(ii) striking out “VIE” and substituting “SPE”,
(b) in paragraph (e), striking out “accounted for using the cost method in the issuer’s financial statements” and substituting “not accounted for by consolidation or the equity method”, and
(c) in the last paragraph,
(i) striking out “VIE” and substituting “SPE”, and
(ii) striking out “The terms “consolidated”, “subsidiary”, “VIE”, “proportionately consolidated”, “equity method” and “cost method” have the meaning ascribed to such terms under the issuer’s GAAP.” and substituting “The terms “consolidated”, “subsidiary”, “SPE”, “proportionately consolidated”, and “equity method” have the meaning ascribed to such terms under the issuer’s GAAP.”.
8. Section 13.3 is amended by
(a) in subsection (1), striking out “VIE” wherever it occurs and substituting “SPE”,
(b) in subparagraph (2)(b),
(i) striking out “interim financial statements” and substituting “interim financial reports”, and
(ii) striking out “GAAP” and substituting “accounting principles”,
(c) in subsection (4),
(i) striking out “VIE” wherever it occurs and substituting “SPE”,
(ii) striking out “sales or revenues” and substituting “revenue”,
(iii) striking out “income or loss before discontinued operations and extraordinary items” and substituting “profit or loss before discontinued operations”,
(iv) striking out “net income or loss for the period” and substituting “profit or loss for the period”,
(v) striking out “balance sheet” and substituting “statement of financial position”, and
(vi) striking out “contingencies” and substituting “contingent liabilities”,
(d) in subsection (5),
(i) in paragraph (c), striking out “any required impairment charge related to the investment” and substituting “any impairment loss in the investment”, and
(ii) in paragraph (d), striking out “income/loss” and substituting “profit or loss”, and
(e) in subsection (6), striking out “VIE” and substituting “SPE”,
9. Section 14.2 is amended by
(a) striking out “sales or revenues” and substituting “revenue”,
(b) striking out “income or loss before discontinued operations and extraordinary items” and substituting “profit or loss before discontinued operations”,
(c) striking out “net income or loss for the period” and substituting “profit or loss for the period”,
(d) striking out “balance sheet” and substituting “statement of financial position”, and
(e) striking out “contingencies” and substituting “contingent liabilities”.
10. Section 17.1 is amended by striking out “acceptable form of GAAP” and substituting “acceptable form of accounting principles”.
11. Part 19 is amended by adding the following after section 19.1:
19.2 Application of Amendments - The amendments to this Policy which came into effect on January 1, 2011 only apply to periods relating to financial years beginning on or after January 1, 2011.
12. These amendments only apply to periods relating to financial years beginning on or after January 1, 2011.
13. These amendments become effective on January 1, 2011.