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ARTICLE · 29 OCTOBER 2026

CSA Publishes Final Amendments To Align Non-GAAP Financial Measures Disclosure Requirements With IFRS 18

Fogler, Rubinoff LLP
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The Canadian Securities Administrators have finalized amendments to National Instrument 52-112 to address the introduction of IFRS 18, which introduces management-defined performance measures requiring disclosure in financial statement notes. These amendments ensure that measures historically treated as non-GAAP financial measures remain subject to regulatory disclosure requirements when disclosed outside financial statements...

CanadaAccounting and Audit
Eric Roblin
Eric Roblin
Rob Leckie
Rob Leckie
Bilal Khan
Bilal Khan
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On October 15, 2026, the Canadian Securities Administrators (the “CSA”) published final amendments (the “Amendments”) to National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”), together with related changes to Companion Policy 52-112 Non-GAAP and Other Financial Measures Disclosure (“CP 52-112”) and consequential amendments to Multilateral Instrument 11-102 Passport System.

The Amendments are intended to address the introduction of IFRS® Accounting Standard, IFRS 18 Presentation and Disclosure in Financial Statements (“IFRS 18”), which was issued by the International Accounting Standards Board (the “IASB”) in April 2024 and becomes effective for annual reporting periods beginning on or after January 1, 2027. Subject to all required approvals, the Amendments will come into force on December 29, 2026. The Amendments are substantively consistent with the draft amendments originally proposed by the CSA in November 2025, with only minor clarifying

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