52-110 - Audit Committees [NI - Rescinded]
Published Date: | 2008-03-10 |
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Effective Date: | 2008-03-17 |
Rescinded Date: | 2011-01-01 |
Document(s): |
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Concurrently Published:
- 52-110CP - Audit Committees [CP - Rescinded]
- 52-110F1 - Audit Committee Information Required in an AIF [F - Rescinded]
- 52-110F2 - Disclosure by Venture Issuers [F - Rescinded]
- BCN2008/13 - Adoption of Multilateral Instrument 11-102 Passport System and related companion policy, and related consequential amendments, Adoption of National Instrument 52-110 Audit Committees, related forms and companion policy, Repeal of British Columbia Instrument 52-509 Audit Committees, and Sections 144 and 145 of the Securities Rules, Adoption of National Policy 11-202 Process of Prospectus Reviews in Multiple Jurisdictions, and National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions, and Rescission of National Policy 12-201 Mutual Reliance Review System for Exemptive Relief Applications, and National Policy 43-201 Mutual Reliance Review system for Prospetuses [BCN - Lapsed]
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