CIRI Comments on Proposed National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure

CIRI submitted comments to the CSA on Proposed National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. We agree with and strongly endorse the concept of improved non-GAAP financial disclosure and are therefore generally supportive of this initiative.

One area of concern we raised was the inability to incorporate information by reference in a news release. For example, the Proposal indicates that non-GAAP financial measures in a news release must be reconciled to the closest GAAP financial measure in the news release itself, rather than referencing and linking to the reconciliation in the MD&A.

To read the full submission, click here.
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