BU121 Study Guide - Midterm Guide: Canada Revenue Agency, Canadian Securities Administrators, Financial Statement
Document Summary
Corporate governance: refers to the procedures designed to ensure that the company is managed in the interest of the shareholders. Financial information must be strictly regulated by government regulators and private organizations. Canadian publicly traded corporations must comply with provincial sector regulators coordinated by the canadian securities administrators. Csa: forum of 13 regulators from provinces to harmonize regulation of the canadian capital markets. Their mission is to protect investors from unfair, improper or fraudulent practice and to foster fair, efficient, and vibrant capital markets. Provincial regulators handle security violations and have legal authority to enforce provincial regulations concerning the timeliness and quality of financial disclosures. They work closely wit security regulators and are responsible for establishing standards of accounting and reporting by canadian companies. External auditors ensure statements comply to these standards. Stock exchange: it partakes in ongoing surveillance when there"s non-compliance with accounting standards, they are investigated and share information with the canadian revenue.
