Publication of a CSA Multilateral Staff Notice regarding the filing of the report by the auditor required by National Instrument 81-102 Investment Funds

Montréal – The securities regulatory authorities in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Québec, Saskatchewan and Yukon (the Participating Jurisdictions) today published CSA Multilateral Staff Notice 81-328 Report by the Auditor in the Form Contained Respectively in Appendix B-1, B-2 or B-3 of National Instrument 81-102 Investment Funds regarding the requirement prescribed by paragraphs 12.1(1)(b), 12.1(2)(b) and 12.1(3)(b) of National Instrument 81-102 Investment Funds (NI 81-102).

The notice highlights the fact that, because of amendments to Canadian generally accepted auditing standards (the GAAS) in the “General Assurance and Auditing” section of “Other Canadian Standards” of the CPA Canada Handbook – Assurance, a report by the auditor filed in the form contained respectively in Appendix B-1, B-2 or B-3 of NI 81-102 (each, the Form Contained in NI 81-102) will not comply with Canadian GAAS for a report by the auditor dated on or after June 30, 2017.

Thus, the Participating Jurisdictions are publishing the notice to announce that they expect a report by the auditor dated on or after June 30, 2017 to comply with Canadian GAAS instead of the Form Contained in NI 81-102.

Some Participating Jurisdictions will issue a blanket order by June 30, 2017 to address the amendments to Canadian GAAS with regard to the current requirements in securities legislation.

The notice can be found on CSA members’ websites.

The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

For more information:

Sylvain Théberge
Autorité des marchés financiers

Nicole Tuncay
Alberta Securities Commission

Alison Walker
British Columbia Securities Commission

Shannon McMillan
Financial and Consumer Affairs
Authority of Saskatchewan

Jason (Jay) Booth
Manitoba Securities Commission

Andrew Nicholson
Financial and Consumer Services
Commission, New Brunswick

David Harrison
Nova Scotia Securities Commission

Janice Callbeck
Office of the Superintendent
of Securities, P.E.I.

John O’Brien
Office of the Superintendent of Securities, Newfoundland and

Rhonda Horte
Office of the Yukon Superintendent
of Securities

Jeff Mason
Nunavut Securities Office

Tom Hall
Office of the Superintendent of
Securities, Northwest Territories