Deficiencies in financial reports of small entities
04 Feb 2006
The Canadian Securities Administrators (the consortium of securities regulators in Canada) have recently published a summary of some of the most common deficiencies they find when they review financial reporting by smaller issuers.
Although the review focused on companies with assets under $5 million, the CSA believes the guidance in their report will also be useful to larger issuers. The most common deficiencies found are in the following four areas:
Click to (PDF 325k).
1. Financial Statements
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