Canada's proposed CEO/CFO certifications regarding internal controls will take effect for FYEs on or after June 30, 2006. See a brief article by lawyers at Osler, Hoskin & Harcourt here. The certifications acknowledge that internal controls are the responsibility of the issuer and that the certifying officers are responsible for complying with that responsibility. Any material changes in internal controls must be disclosed in the issuer's MD&A.
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