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Continuous Disclosure Review Program - AMF releases 2015-2016 Activity Report

  • Securities - AMF Image

Sep 15, 2016

On September 15, 2016, the Autorité des marchés financiers (AMF) released the 14th edition of the Activity Report for the Continuous Disclosure Review Program. The report outlines the oversight measures applied during fiscal 2015-2016 and makes key recommendations for companies regarding the presentation of compliant continuous disclosures.

The report also highlights the findings of the review of financial measures that do not comply with generally accepted accounting principles (GAAP), which showed that many issuers are still not adhering to the guidance in CSA Staff Notice 52-306 (revised).

In addition to the deficiencies in disclosures accompanying non-GAAP financial measures, the AMF noted, during the previous fiscal year, failures in some companies’ processes for evaluating the effectiveness of internal control over financial reporting (ICFR) and disclosure controls and procedures (DC&P). The report also specifies the principal areas the AMF will focus on in its 2016-2017 reviews.

Review the report on the AMF's website.

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