Exploring Corporate Governance Around the World

By Allison Garrett, Senior Vice President for Academic Affairs at Oklahoma Christian University

Thursday, March 01, 2007

CEO and CFO Certifications in Canada

Stikeman Elliott, a top-notch Canadian law firm, has posted a newsletter on its web site about The current status of CFO and CEO certifications in Canada. The newsletter discusses the certification rules (Multilateral Instrument MI 52-109 (2003)), which are effective for most Canadian issuers for filings covering FYE December 31, 2006. Like certifications under Sarbanes-Oxley, in Canada the CEO and CFO must also certify that they have reviewed the annual financials and MD&A and that based on their knowledge there are no untrue statements of material fact, nor are there material omissions. The certifications also cover disclosure controls.

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