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ARTICLE · 15 DECEMBER 2014

New Rules For Resources Sector Financial Reporting Aim To Help Reduce Corruption

Blaney McMurtry LLP
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The 2015 conference of the Prospectors and Developers Association of Canada (PDAC), one of the most influential annual resources sector meetings in the world, is scheduled for the Metro Toronto Convention Centre March 1 – 4.

CanadaAccounting and Audit
Blaney McMurtry LLP
Blaney McMurtry LLP
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The 2015 conference of the Prospectors and Developers Association of Canada (PDAC), one of the most influential annual resources sector meetings in the world, is scheduled for the Metro Toronto Convention Centre March 1 – 4. New federal law requiring all Canadian oil, gas, mineral and other resource companies to disclose publicly all payments to all governments is certain to be the subject of much discussion. In the following article, Blaney McMurtry partner Ralph Cuervo-Lorens highlights the key provisions of the new statute.

After considerable consultation and discussion, Parliament is debating the Extractive Sector Transparency Measures Act, which creates new reporting standards for payments made to foreign and domestic governments (including Aboriginal groups) by Canadian mineral, oil or gas development companies.

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