On February 4, 2005, members of the Canadian Securities Administrators (the CSA), other than British Columbia, published for a 120-day comment period proposed Multilateral Instrument 52-111 Reporting on Internal Control over Financial Reporting (the Proposed Internal Control Instrument) and a related companion policy (collectively, the Proposed Internal Control Materials). The CSA also published an instrument to revise Multilateral Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings (the Revised Certification Instrument), the certification forms and the related companion policy (collectively, the Revised Certification Material).
The objective of the proposals set out in the Proposed Internal Control Materials and the Revised Certification Materials is to improve the quality and reliability of financial and other continuous disclosure reporting by reporting issuers. The CSA believe that this in turn will help to maintain and enhance investor confidence
