52-401 - Canadian Securities Administrators Discussion Paper - Financial Reporting In Canada’s Capital Markets [CSA - Rescinded]

Canadian Securities Administrators Discussion Paper 52-401
Financial Reporting In Canada's Capital Markets

TABLE OF CONTENTS

EXECUTIVE SUMMARY Paragraph

  
PART 1 INTRODUCTION 1 - 8
  
PART 2 THE CURRENT ENVIRONMENT IN CANADA'S CAPITAL MARKETS 
The current financial reporting regime 9 - 11
Use of US GAAP by Canadian companies 12 - 16
  
PART 3 A PREVIOUS REVIEW OF FINANCIAL REPORTING REQUIREMENTS 17 - 24
  
PART 4 DEVELOPMENTS IN ACCOUNTING STANDARDS SETTING 
Introduction 25
The Canadian approach 26 - 29
The impact of convergence on Canadian accounting standards 30 - 36
The IASC's core standards project 37 - 39
Restructuring of the IASC 40 - 43
  
PART 5 ALTERNATIVES FOR CANADA'S CAPITAL MARKETS 
Introduction 44
Foreign issuers 45 - 46
Canadian issuers 47
Matters to consider in evaluating alternatives 48 - 64
  
PART 6 QUESTIONS RELATING TO POSSIBLE CHANGES TO CURRENT REQUIREMENTS 
Introduction 65 - 69
Foreign issuers 70 - 71
Canadian issuers 72 - 79
  
PART 7 ASSESSMENT OF THE IASC STANDARDS 
Introduction 80 - 81
Comprehensiveness of the IASC standards 82 - 86
Quality of the IASC Standards 87 - 98
  
PART 8 CONCLUSION 99-100
  
PART 9 COMMENTS 101-105
  
Appendix A The Core Standards Project 
  
Appendix B List of Core Standards and each Standard's Effective Date