OSC sets out IFRS disclosure deficiencies for investment funds

October 9, 2014

Last week, the OSC's Investment Funds and Structured Products Branch released a notice setting out deficiencies identified by branch staff in their preliminary review of IFRS interim financial reports for the period ending June 30, 2014.

According to staff, recurring deficiencies in IFRS filings include (i) missing IFRS 1 reconciliations; (ii) missing opening IFRS statements of financial position; and (iii) missing management report of fund performance (MRFP) disclosure.

According to the branch, these deficiencies will be addressed in comment letters to investment fund managers. The notice also reminds investment fund issuers that non-compliance could result in the issuer being added to the default list.

DISCLAIMER: This publication is intended to convey general information about legal issues and developments as of the indicated date. It does not constitute legal advice and must not be treated or relied on as such. Please read our full disclaimer at www.stikeman.com/legal-notice.

Stay in Touch with Knowledge Hub