Evaluating the operational effectiveness of internal control over financial reporting

Learn how non-venture issuers can use the Canadian Securities Administrators’ (CSA) Companion Policy to National Instrument 52-109 to evaluate the effectiveness of internal control over financial reporting (ICFR) in their CEO and CFO certifications.

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When it comes to CEO and CFO certification, organizations that are non-venture issuers must include conclusions on the operating effectiveness of ICFR in their management discussion and analysis. This CPR Alert summarizes how the CSA’s Companion Policy to National Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings can help you better understand the design of ICFR, and how to evaluate its operational effectiveness.

You will learn about:

  • the objective of an ICFR evaluation
  • assessing and disclosing material weaknesses that impact ICFR
  • a range of tools to perform ICFR evaluation
  • timing and documentation considerations for the evaluation process
  • the role of the board in disclosing its evaluation of ICFR

Highlights

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