The requirements with respect to the filing of ongoing annual and interim financial statements are detailed in Part 4 of National Instrument 51-102 – Continuous Disclosure Obligations. Specifically, a public company (known as a “reporting issuer”) must provide the following financial statements annually and on an interim (quarterly) basis that include:
- a statement of comprehensive income, a statement of changes in equity, and a statement of cash flows for
- the most recently completed financial year; and
- the financial year immediately preceding the most recently completed financial year, if any;
- a statement of financial position as at the end of each of the periods referred to in item 1. above.
Annual financial statements must be audited. Interim financial statements are not required to be audited but reporting issuers generally have their auditor review the interim financial statements. If an auditor has not performed a review of an interim financial report, the interim financial report must be accompanied by a notice indicating that an interim financial report has not been reviewed by an auditor.
Reporting issuer financial statements must be presented using International Financial Reporting Standards (“IFRS”).
Annual financial statements of a venture issuer are required to be filed within 120 days of the fiscal year end. Interim financial statements of a venture issuer are required to be filed within 60 days after the interim period ends.