52-110 - Audit Committees [MI Proposed - Lapsed]
Published Date: | 2007-03-28 |
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Document(s): |
Concurrently Published:
- 52-110CP - Audit Committees [CP Proposed - Lapsed]
- 52-110F1 - Audit Committee Information required in an AIF [F Proposed - Lapsed]
- 52-110F2 - Disclosure by Venture Issuers [F Proposed - Lapsed]
- BCN 2007/13 - Request for Comment on Proposed Multilateral Instrument 52-110 Audit Committees, Form 52-110F1 Audit Committee Information required in an AIF, Form 52-110F2 Disclosure by Venture Issuers, Companion Policy 52-110CP to Multilateral Instrument 52-110 Audit Committees and Proposed BC Instrument 52-51* Transitional Variation of Multilateral Instrument 52-110 and Repeal of BC Instrument 52-509 Audit Committees and Sections 144 and 145 of Securities Rules [BCN - Lapsed]
Table of Contents
PART 1 DEFINITIONS AND APPLICATION
1.1 Definitions
1.2 Application
1.3 Meaning of Affiliated Entity, Subsidiary Entity and Control
1.4 Meaning of Independence
1.5 Additional Independence Requirements
1.6 Meaning of Financial Literacy
PART 2 AUDIT COMMITTEE RESPONSIBILITIES
2.1 Audit Committee
2.2 Relationship with External Auditors
2.3 Audit Committee Responsibilities
2.4 De Minimis Non-Audit Services
2.5 Delegation of Pre-Approval Function
2.6 Pre-Approval Policies and Procedures
PART 3 COMPOSITION OF THE AUDIT COMMITTEE
3.1 Composition
3.2 Initial Public Offerings
3.3 Controlled Companies
3.4 Events Outside Control of Member
3.5 Death, Disability or Resignation of Member
3.6 Temporary Exemption for Limited and Exceptional Circumstances
3.7 Majority Independent
3.8 Acquisition of Financial Literacy
3.9 Restriction on Use of Certain Exemptions
PART 4 AUTHORITY OF THE AUDIT COMMITTEE
4.1 Authority
PART 5 REPORTING OBLIGATIONS
5.1 Required Disclosure
5.2 Management Information Circular
PART 6 VENTURE ISSUERS
6.1 Venture Issuers
6.2 Required Disclosure
PART 7 U.S. LISTED ISSUERS
7.1 U.S. Listed Issuers
PART 8 EXEMPTIONS
8.1 Exemptions
PART 9 EFFECTIVE DATE
9.1 Effective Date